The Easton Group has started construction on a 127,150 square-foot warehouse/distribution facility in Doral.
The $20 million project is planned for a 7-acre parcel within International Corporate Park (ICP), a 300-acre Class A industrial park developed by Easton.
The 1500 NW 97th Ave. property is the last significant vacant site for industrial use within ICP.
“Based on the current demand for quality warehouse space, driven mostly by ecommerce, we think the timing is right to bring new product to the market,” said Edward W. Easton, chairman of The Easton Group. “With rising lease rates and shrinking inventory, it just makes sense.”
The building is designed for 30-foot clear height, 42 dock-height doors and 140 parking spaces. The asking rent is $9.95 per square foot net.
ICP, which is near 100 percent occupancy, is ideally located in central Doral with easy access to PortMiami and Miami International Airport. The new warehouse/distribution center will front busy Northwest 97th Avenue providing exceptional visibility.
“We have been talking to a number of companies who love the location and are very interested in taking the space,” said Dalton Easton, an associate with Easton & Associates who will handle leasing along with Tom Kimen, a vice president. “We have the flexibility to bring in a single user or to divide the building into several bays for multiple tenants.”
City National provided a $12 million construction loan. The project is expected to be finished during the fourth quarter of 2021.
