Technology company will occupy nearly 3/4 of first building in a new, planned two-building development in Medley.
The South Florida office of Duke Realty (NYSE: DRE), the leading domestic-only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces that it is has signed a prelease with a distributor of technology products for 160,793 square feet in a new 221,984-square-foot logistics building in Medley, Florida. The building is one of two logistics facilities planned on the 34.92 acre site, which will be known as Miami 27 Business Park. The tenant, which signed its lease prior to the start of construction, is expected to occupy its new space in September 2021.
A redevelopment project, Miami 27 Business Park is being built on the site of a former lumberyard. Duke Realty has completed demolition and the site is pad ready. The 221,984-square-foot facility will be known as Miami 27 Business Park 10310. The development park is immediately adjacent to U.S. Highway 27, which facilitates quick connectivity to the Florida Turnpike, I-75, and State Road 826, a roadway that provides direct access to the cargo area of Miami International Airport. Numerous improvements are being made to the transportation infrastructure surrounding the park to improve traffic flow.
“We are pleased with our ability to prelease Miami 27 Business Park 10310 and are excited to welcome our tenant to their new space. Interest in the park has been strong as companies are working to identify sites that will help them reduce transportation costs and improve efficiencies,” said Stephanie Rodriguez, Vice President of Leasing and Development for Duke Realty in South Florida. “The modern features being incorporated into this facility plus its excellent highway access and proximity to the airport combine to give clients an attractive package of logistics options and efficiencies.”
Construction on Miami 27 Business Park 10310 is expected to begin in October. The precast concrete, rear-load building will have 36′ clear height, 54′ x 50′ bay spacing, 26 dock doors and 2 drive-in doors. Outside the building will be 262 car parking spaces and a 186′ shared truck court with 51 shared trailer parking spaces.
David Behar with Behar Real Estate Group represented the tenant in its lease while Duke Realty was represented by listing agent Erin Byers with Colliers International South Florida and Ms. Rodriguez.
“With the remaining 61,191 square feet of space in Miami 27 Business Park 10310, we will be able to offer move-in ready, first-class space to clients with immediate needs in this high-demand distribution market,” added Rodriguez. “The other parcel in Miami 27 Business Park will accommodate a 501,224-square-foot building, which we are poised to start upon a prelease or build-to-suit request.”
Parties interested in leasing the remaining space in Miami Business Park 10310 or build-to-suit or prelease opportunities on the other Miami 27 Business Park parcel are invited to contact Ms. Rodriguez at 954.453.5671.
About Duke Realty
In South Florida, Duke Realty owns, operates or has under construction more than 8.5 million square feet of logistics real estate. Its local office is at 2400 North Commerce Parkway, Suite 405, Weston, FL 33326. The phone number is 954.453.5660.
On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 156 million rentable square feet of logistics real estate assets in 20 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a member of the S&P 500. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.