MIAMI-Transcor of Miami Inc., a Philadelphia-based company that provides storage and distribution services to the South Florida cruise industry, has inked a lease for 70,000 sf in a 200,000-sf building at 3450 NW 112th St. in the Gratigny Industrial Park.
The transaction represents an expansion and relocation from Sunshine Industrial Park and also consolidates the company's Florida operations in the Gratigny park where it already occupies 142,000 sf in a different building.
Gordon Messinger, a senior commercial associate with Miami Beach-based Terranova Corp., represented the owner who chooses to remain unidentified. Bill Webb III of locally based Webb Commercial Realty Inc. represented the tenant. Messinger says the aggregate value of the five-year agreement is $2 million. "Rental rates for this type of property in the park are in the range of mid to low $5 per sf," he says. The building is now 75% occupied.
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