Managed by Miami-based Codina Group, the 106-acre industrialpark in the Medley/airport north submarket comprises 25 office,showroom and warehouse buildings that are either leased or sold toabout 100 companies. Construction buildout is projected at abouteight million sf.


Market activity appears strong in the industrial park. Lastmonth, Flagler Development negotiated an estimated $3.1 millionsale, or roughly $6 per sf, on a 11.84-acre parcel to Dade Paper& Bag Co., a Miami-based company that plans to build ahigh-tech plant to improve the manufacturing of its paper, plastic,foam, chemical and janitorial products.


Just recently, Flagler completed construction on a 100,000-sfcall center for Union Planters. Work recently started on two otherbuild-to-suit projects totaling 500,000-sf, including a 300,000-sfbuilding for Caterpillar Logistics.

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