Cushman & Wakefield Inks Two Industrial Deals For 144,000 Square Feet

Jul 30, 2020 No Comments by

Cushman & Wakefield has arranged a 92,550-square-foot lease at Medley 104 Industrial Center in Medley, following the completion of a $6.5 million renovation.

Wayne Ramoski, Executive Managing Director; Gian Rodriguez, Managing Principal of Miami and Fort Lauderdale and Skylar Stein, Senior Associate, represented the landlord, Lincoln Property Company, in the transaction. Matt Maciag, Brian Smith and Audley Bosch of JLL represented the tenant, U.S. PLY, Inc.

Located at 9400 NW 104th Street in Miami’s premier Medley submarket, the 263,131-square-foot multi-tenant building offers proximity to major highways and easy access to air and seaports. The remaining 72,103-square-foot space for lease in the property provides 25’ ceiling heights, +/-2,677 of new office space, 20 dock doors, 132’ secured rear truck court, ESFR sprinklers, all new mechanical systems and LED energy efficient lighting. Potential uses include distribution and light manufacturing.

“This is our second lease in this facility with credit companies, which confirms Lincoln’s repositioning strategy of this asset,” said Ramoski.

The building previously housed the headquarters and distribution for CVS (previously Navarro Discount Pharmacies). Additional tenants include Artefacto, which leased 98,478 square feet in March 2019.

In a separate deal, Cushman & Wakefield South Florida Industrial Team of Executive Director Rick Etner, Executive Director Christopher Thomson, Executive Director Chris Metzger and Director Matthew G. McAllister negotiated a 51,640-square-foot industrial lease with Fun Sweets, LLC, a South Florida-based maker and distributor of packaged cotton candy products. The lease, at 501 103rd Ave. in Royal Palm Beach, brings the Class A, 86,400-square-foot warehouse and distribution facility to 100% occupancy.  The team represented the landlord, Easton & Associates. The team also represented Easton & Associates in the recent $15.5 million sale of the property to Cabot Properties.

Fun Sweets, established in 1994, distributes its products nationally through Walmart, Dollar General and Dollar Tree along with many of the nation’s leading grocery stores, theme parks and specialty stores. The tenant relocated from another warehouse property in West Palm Beach, where it occupied approximately 20,000 square feet.

 

“We are always happy when we can help a South Florida-based company expand its business, and in this case Fun Sweets more than doubled its footprint,” said Thomson. “501 103rd Ave. had the right location and size to support Fun Sweet’s growth needs, and we were pleased to help our client Easton & Associates fill this property prior to its sale.”

Built in 2014, the facility features 28-foot clear height ceilings, 11 docks high doors, 40-by-48-foot column spacing and 60-by-60-foot loading bay. The property is situated just west of State Road 441 and just north of Southern Boulevard, providing convenience to Florida’s Turnpike and Interstate 95.

Fun Sweets joins Red Bull North America, Inc. at 501 103rd Ave., which occupies the rest of the building. The Cushman & Wakefield team also negotiated the Red Bull lease.

 

 

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Industrial / Flex, Industry News, Miami-Dade County Industrial / Flex, NA
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