Transwestern Awarded 230,000 SF Industrial Portfolio

Transwestern’s South Florida office is pleased to announce that it has been awarded the exclusive leasing assignment by Seagis Property Group LP for its newly acquired assets totaling 230,000 square feet. The two industrial properties are located at 3450 NW 115th Avenue in Doral and the Northeast corner of the Palmetto Expressway and NW 37th Avenue in Miami Gardens.
Transwestern’s Thomas Kresse, Senior Vice President, Walter Byrd, Managing Director, and Benjamin Eisenberg, Managing Director, will oversee the assignment on behalf of the landlord, with whom they have an established relationship of success, recently bringing two assignments to full capacity in an expeditious time period.
“We have a long-standing relationship with the landlord and are extremely pleased to be awarded these leasing assignments,” said Mr. Kresse. “Market demand remains on an uptick with recent absorption rates for industrial properties rising in key South Florida sectors.”
Miami’s overall industrial market is expected to improve moderately as we move forward through 2012, with rental rates continuing to improve and vacancies steadily decreasing. 2011’s yearend absorption total of more than 1.8 million square feet marked the second consecutive year of positive space gain.
826 Industrial Park is a three building, 140,000 square foot industrial park which fronts the Palmetto Expressway. The available spaces range in size from 6,000 to 16,000 square feet and offers excellent accessibility to the Golden Glades Interchange.
The second property is an 87,000 square foot Class “A” freestanding warehouse/distribution facility located in Airport West. The building fronts the Florida Turnpike and features 10,000 square feet of finished office, and an approved secure outdoor storage area.
Seagis Property Group LP owns and operates over 8 million square feet of industrial buildings in logistically driven locations along the Eastern Seaboard.