Miami-based brokerage and advisory firm State Street Realty has leased 41,704 square feet (Building 6) and 41,307 square feet (Building 7) totaling 83,011 square feet of industrial space to Professional Technology Repairs, LLC at Prologis Beacon Lakes Business Park located within the Miami-Airport West submarket.
Beacon Lakes Building 6 totaling 206,478 square feet and Building 7 totaling 192,476 square feet are now 100% occupied.
State Street Realty Executive Vice President Ed Lyden along with President George Pino, SIOR represented the Landlord, Prologis.
Professional Technology Repairs, LLC, the Tenant, was represented by Wes LaPradd of Beacon Commercial Realty.
“We have seen a robust interest in the Airport West/Doral submarket, which is a direct correlation to the positive attributes of the area and a healthy indication some industry sectors are rebounding. The increased demand for class A distribution space in the Miami Airport submarket has reduced supply to a point where the market is experiencing an uptick in lease rates specifically for industrial space under 30,000 square feet which has a vacancy rate of only 2.5%,” says Lyden. According to Lyden, “the properties prime location next to the Florida Turnpike, Dolphin Expressway, Miami International Airport and Port of Miami, efficient building specifications, quality property management, top-class amenities and stable institutional ownership were all attractive elements that brought the tenant to the property. The tenant had numerous options but as the industrial sector continues to strengthen in the Miami Airport West submarket, tenants will want to lease space from Landlords like Prologis that can provide tenants immediate growth flexibility for their business.”
Located at the Florida Turnpike and NW 25 Street, Prologis Beacon Lakes Business Park is a Class “A” Prologis-owned secure distribution warehouse Park located in the heart of the Miami Airport West submarket.
Prologis is the largest landlord of industrial warehouse space in the Miami Airport West area.