Seaboard is keeping its industrial base in the outskirts of Miami, in one of South Florida’s largest industrial lease agreements so far this year.
The shipping company renewed two leases — totaling 308,000 square feet — for two affiliates, Seaboard Marine and Seaboard Solutions, at Prologis (PLD) Palmetto Tradeport in Medley.
Seaboard moved into the park in the 1990s, taking 166,400 square feet, and has since expanded twice, according to Colliers’ Jonathan Kingsley, who represented the tenant. JLL’s Brian Smith, who did not immediately respond to a request for comment, represented the landlord.
The renewals include 208,400 square feet at 8001 NW 79th Avenue and 88,584 square feet at 7800–7890 NW 80th Street. A parking lot separates the buildings.
“We appreciate our long-term relationship with Prologis and their ability to provide the necessary improvements and upgrades to our Miami off-port warehousing facilities as part of our continued commitment to our Medley facilities,” Bruce Brecheisen, Seaboard Marine’s executive vice president, said in a statement.
Industrial giant Prologis has owned the industrial park since 2011 when it purchased AMB Property, which had bought the campus for $67 million the year prior, according to property records. Completed in 1994, the property is at 7800–7890 NW 80th Street and 8001 NW 79TH Avenue.