In-Flight Retailer Renews 194,000 SF Lease

Jan 20, 2016 No Comments by

After a thorough review of the South Florida real estate market, DFASS Group, the world’s largest in-flight duty-free retailer, has renewed its 193,558-square-foot industrial lease in the Aventura Industrial Center.

As the third largest industrial lease in South Florida for 2015, Jonathan Kingsley, Executive Vice President; Stephen Rutchik, Executive Vice President; and Ryan Goggins, Senior Associate, of Colliers International South Florida, represented the landlord, Stockbridge Capital. Jonatan Sredni of US Property Management represented the tenant.

DFASS Group, which has based its distribution center at the Aventura Industrial Center since 2011, is an international duty-free retailer with more than 25 stores in North America, Latin America and the Caribbean. Driving factors behind the company’s decision to renew at the Aventura Industrial Center include the property’s central Miami-Dade location with proximity to several airports and shipping ports, as well as the center’s expansive size and quality institutional ownership.

 

“In a situation like this, where the location, size and quality of the space remain favorable, it often makes sense for a company to stay in its existing location,” said Colliers’ Kingsley. “In this case, DFASS saw renewing its lease at Aventura Industrial Center as the best option for its ongoing operations.”

Colliers International South Florida was awarded the leasing assignment for Aventura Industrial Center in August 2015.

The Aventura Industrial Center consists of two buildings, located at 555 N.E. 185th St. and 320 N.E. 187th St., totaling 302,825 square feet.

 

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