Global Logistics Company To Occupy Industrial Building Within Miami Midway Park - Miami Airport Warehouses
February 27, 2023
A logistics company with warehouse and distribution centers across the globe has closed on a leasing deal for an industrial building in Hialeah that has not yet been built.
Erie, Pennsylvania-based Logistics Plus will occupy an entire 181,051-square-foot warehouse at 9535 N.W. 174th St. within Miami Midway Park. The 42-acre industrial project is now being developed by Coconut Creek-based Butters Construction & Development and Charleston-based Greystar.
“The company will move in as soon as the warehouse is completed in November,” said Frank Trellis, vice president of State Street Realty, who represented Logistics Plus in the lease negotiations. “Logistics will then hire between 50 and 75 people at that location. It will be a brand new development that they [Logistics Plus] can customize to fit their operation.”
The developers of Miami Midway Park were represented by JC Conte and Brian Ahearn of Butters Realty and Gregory Pino and Brian Cabielles of State Street Realty. Frank Trellis of State Street Realty represented Logistics Plus.
Founded 25 years ago by Jim Berlin, Logistics Plus employs more than 1,000 people in 35 countries and earns more than $500 million a year, according to the company. At present, its presence in South Florida is limited to an 8,000-square-foot warehouse at 2186 N.W. 84th Place in Doral, which the company is subleasing until its Miami building is completed, Trellis said.
“There is basically very little inventory,” Trellis said. “In the past, you could start looking for a space six or eight months before a lease expires. Now you have to start looking 12 or 18 months in advance.”
Logistic’s new warehouse will include features such as 32-foot clear ceilings, 48 loading docks, and EV charging stations, according to an online Miami Midway Park brochure. The brochure didn’t list asking rents. However, average rental rate sought by industrial landlords in Hialeah was $12.15 per square foot in the fourth quarter of 2022, according to a recent report from Avison Young.
Source: SFBJ