The ComReal Industrial Team, led by Edison Vasquez, and Ed Redlich, represented Cargo Express International in the lease to relocate its operation to a class A warehouse inside Beacon Centre in the City of Doral. The space is at 8501 NW 17th ST Doral, FL 33172. Cargo Express currently occupies a space inside the former Miami Free Zone. The company has been at that location from over 12 years. The new space has a total of +/- 56,800SF space with 17 rear loading docks and 24’ clear ceilings. Cargo Express plans to make this a site approved to FTZ and Customs inspections. This new space is located less than 2 miles West from Miami International Airport. This Industrial project is owned by Prologis (NYSE PLD); the largest landlord of industrial properties in the World.
This space is the middle of one the strongest industrial markets in the country. This area, Miami Airport West, is home to over 100,000,000SF of industrial space. It sets up perfectly for companies that need immediate access to Miami International Airport. Additionally, the property is in proximity to all major highways, including Palmetto Expressway (SR 826), Dolphin Expressway, (SR 836) and Florida’s Turnpike.
“The Industrial Real Estate market in Miami continues to break through new records on both leasing and sales. The strong demand and low availability of space continues to push lease rates up. For Cargo Express, location was important and this space met the criteria. Fortunately, prompt action from all parties helped us secure the space and negotiate favorable terms for Cargo Express” said Edison Vasquez with ComReal.
Cargo Express International, Inc. is one of the largest Third-Party Logistics (3PL) company in Miami Dade County. Started in 1983 and has always been located West of Miami International Airport. The company specializes in logistics that require Foreign Trade Zone (FTZ), Customs Services and Container Freight Station. More info their website at www.cargoexpressintl.com
The industrial real estate market in Miami Dade County continues its strong growth outpacing the national industrial average. The limited inventory of buildings and land continues to push sale prices and corresponding rents to record numbers. In the second quarter of 2022, the average lease rate for spaces in Miami Dade was $17.02/SF. The market vacancy rate was almost at all-time low of 2.5%.
For more information on the transaction, leasing space that building or for other similar buildings in our inventory, contact the Industrial Team at ComReal at 786-433-2383 or evasquez@comreal.com
About the ComReal Miami Industrial Team: The ComReal Miami Industrial Team has been assisting companies with their South Florida real estate needs for over 30 years. The industrial team specializes in the sales and leasing of industrial properties. Visit Warehouses Market and/or call 786-433-2380 for more information.
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