Logistics Company Leases 185,500 Square Feet

Transwestern South Florida signed a new 185,520 square foot lease on behalf of OHL Inc., one of the largest third-party logistics companies in the world, at 10733 NW 123rd Street in Medley.
The tenant will take full occupancy of the brand new, state-of-the-art Class A industrial facility, developed by an affiliate of Industrial Income Trust Inc., a Denver based institutional owner, in October.
Transwestern’s Walter Byrd and Ben Eisenberg, Managing Directors of the South Florida offices, Thomas Kresse, Senior Vice President, and Carlos Gaviria, Associate, completed the transaction on behalf of the tenant, in conjunction with Brian Camp, Jeb Atkinson, Doug McDowell and Jess Andrews of ProVenture, OHL’s exclusive worldwide real estate provider. Jones Lang LaSalle’s Steve Medwin and Nick Wigoda represented the landlord.
“OHL was a highly sought after tenant with numerous Landlords aggressively seeking this deal,” said Mr. Byrd. “The Landlord not only developed a great building for this requirement but had a team that sought to build on their national relationship with OHL and made the lease process easier.”
The North Dade/South Broward markets continue to see vibrancy as this deal signifies the third largest deal in less than a month. The numerous geographic and functionality advantages as well as competitive lease rates compared to the Airport market are attracting large logistics users. This facility is 50% larger than OHL’s existing North Dade facility and is attractive due to the ease of access to the Florida Turnpike and Okeechobee Road (US-27), abundance of highly efficient warehousing space with 30 foot ceilings, heavy door count and space to stage trailers, all within a freestanding building that provides a more secure facility.
“OHL has long understood the value of having a significant presence in Miami,” said Mr. Camp of ProVenture. “For this location, OHL believes that its new facility is an ideal fit for its operations, both in terms of functionality, location and ownership.”