(Crystal Proenza is associate editor of RealEstate Florida.)
MIAMI-PriceSmart Inc., which operates membership-based shoppingwarehouse clubs in the Caribbean and Central America, has signed a10-year, 127,000-sf lease at Flagler Station in Medley.Transwestern managing directors Walter Byrd and Ben Eisenberg,along with VP Thomas Kresse, represented PriceSmart while landlordFlagler Development represented itself.
The total value of the transaction is $9.5 million, according toTranswestern. PriceSmart previously leased at Flagler Station, andis expanding into 40% larger space that will serve as its primarydistribution center. It is anticipated that the new center willbecome operational in June.
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