State Street Realty leased 19,200 square feet of industrial space to Rubi Tools USA, Inc. at Prologis Beacon Industrial Park,located within the Miami-Airport West submarket.
As a result, the 870,000-square-foot Class A Industrial Park, is now 100% occupied.
State Street Realty President George Pino, SIOR, Executive Vice President Ed Lyden and Associate Brian Cabielles represented the Landlord, Prologis. Rubi Tools USA, Inc., the Tenant, was represented by Hector Catano and Frank Trelles of Cornerstone International Realty.
“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 Pino. According to Pino, “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 10813 NW 30 Street in Doral, Beacon Industrial 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.