Transwestern Arranges 50 KSF Industrial Lease in Miami
- May 31, 2018
Transwestern’s South Florida industrial team has secured a long-term lease for 50,000 square feet at Miami International Commerce Center (MICC), a 3.5 million-square-foot industrial park in Doral, Fla. The company worked on behalf of the landlord, PS Business Parks Inc., while NKF represented the tenant.
AAR Aircraft Services relocated its headquarters at 7850 N.W. 25th St., just a few miles from Miami International Airport. According to Transwestern research, the Airport West/Doral submarket had a 4.1 percent vacancy rate as of the first quarter of 2018. The submarket showed the quarter’s strongest demand, with 245,269 square feet of positive absorption. The property provides easy access to Palmetto and Dolphin expressways, N.W. 36th Street and N.W. 87th Avenue. MetroPCS Corporate Store, Extended Stay America Miami Airport Doral, Starbucks, Doral Billiards & Sports Bar, DHL and Gemaire Distributions are all nearby.
“MICC’s location, less than two miles from Miami International Airport, played a major factor in AAR’s decision to relocate,” said Transwestern Managing Director Thomas Kresse, in prepared remarks. “In addition, we were able to accommodate the tenant’s space requirement and offer a generous parking ratio.”
NKF Executive Managing Directors Steve Medwin and Nick Wigoda represented the tenant. Kresse, Senior Managing Directors Walter Byrd and Ben Eisenberg and Vice President Carlos Gaviria were all part of the Transwestern team that obtained a new tenant for PS Business Parks. Earlier this year, Transwestern facilitated the sale of a 130,300-square-foot industrial asset in Hartford, Wisc.
Image courtesy of Transwestern