MIAMI-Philadelphia-based Case Paper is relocating its Southeast manufacturing and distribution center to 110,000 sf in the 165,000-sf industrial building at 3329-33 NW 116th St. The seven-year lease has an aggregate value of just under $4 million, according to Audley Bosch of the Miami office of Cushman & Wakefield. Bosch, and Brian Smith and Wayne Ramoski, senior directors of C&W industrial brokerage services here, represented the owner, locally based Augie Enterprises, in the transaction. Devin White of Coral Gables-based Codina Realty Services (now owned by Florida East Coast Industries) represented the tenant.

This lease takes occupancy in the building to 100%, according to Bosch. It is the third transaction his team has negotiated for AE in this distribution center within the past 12 months. "The North Miami-Dade/Gratigny submarket is extremely tight with very little to no availability," he tells GlobeSt.com. "It's in close proximity to major areas of influence and transportation and presents an alternative for businesses looking outside of Doral and Airport West."

According to published data from several area brokerage firms, asking rent rates for industrial space in Airport West are above $7.80 per sf, or approximately $1.60 per sf higher than in North Miami-Dade.