JLL Closes Miami’s Largest Industrial Lease of the Year
By Georgiana Mihaila, Associate Editor
Ozburn-Hessey Logistics will soon be occupying the entire Pan American North Distribution Center in Medley, Florida, after signing what is said to be the largest new lease signed in Miami’s industrial market this year.
OHL—one of the world’s largest third-party logistics providers of chain management solutions—signed a 185,520-square-foot lease this week, which means it will occupy the entire newly-build distribution center starting fall 2013, driving occupancy at the property to 100 percent.
Jones Lang LaSalle’s Managing Director Steven Medwin SIOR, CCIM, along with Nick Wigoda, vice president, and Matt Maciag, industrial associate, completed the lease transaction on behalf of the property’s developer and owner, a Denver-based institutional landlord. OHL was represented by Brian Camp, Jeb Atkinson, Doug McDowell and Jess Andrews of Tennessee-based ProVenture, LLC and was assisted locally on the deal by Transwestern’s Walter Byrd, Ben Eisenberg, Thomas Kresse and Carlos Gaviria.
“OHL chose Pan American North Distribution Center for its expanded Miami facility because of the 30-ft. clear ceiling heights that will allow use of additional cubic space, its close proximity to major highways, and central location within the Miami-Dade County industrial market,” Medwin explained. “This latest transaction further positions Medley as an attractive submarket for national and locally owned companies.”
OHL, which operates more than 130 distribution centers worldwide, plans to move into the building located at 10733 NW 123rd Street in the fall. The Class A space offers state-of-the-art features and provides direct access to the Florida Turnpike Extension and US-27 (Okeechobee Road).
Image courtesy of Schwartz Media StrategiesTags: Brokers, Commercial, Finance/Investment, Industrial, JLL, lease, leasing, Local, Miami, Miami Lead Story, National, operations, Owners, Pan American North Distribution Center, Professional, Regional