(Crystal Proenza is associate editor of Real EstateFlorida.)

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MIAMI-Flagler Development Group has signed an undisclosed tenantto its Flagler Station business park in the Airport West submarket.The 10-year, 240,000-square-foot lease is with a Midwest-basedFortune 500 company, according to the development firm.

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Although Flagler declined to identify the tenant, industryexperts speculate that it will be Deerfield, IL-based LagasseSweet,a wholesale distributor with locations throughout the country thatwas reportedly seeking 250,000 square feet this summer. Accordingto Lagasse's Web site, there is currently one export divisionlocation listed in Hialeah at 215 SE 10th Ave. A call to the firmwas not returned by deadline.

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The new tenant will occupy 73% of a 328,000-square-footoffice/industrial building currently being constructed at FlaglerStation. The building will feature 30-foot clear ceilings, saysRafael Romero, vice president with Flagler, who secured the dealalong with Stuart Gordon, senior leasing director. They tellGlobeSt.com that the new tenant will occupy the space when thebuilding is completed in May or June 2009, adding that the clienthas an option to expand another 210,000 square feet.

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"At that point, we would construct another building within ourportfolio" to accommodate the client all under one roof, Gordonexplains. Further details about the lease, including the value,were not disclosed. Average asking rents in the Airport Westsubmarket are $8.46 per square foot, according to the Cushman &Wakefield.

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"The lease continues to show the strength of the Miami marketbecause such a large tenant has a lot of options and could havegone elsewhere in South Florida," says Romero. Flagler boasts thatit has signed nearly a million square feet at Flagler Station overthe past year, bringing the occupancy level to 94%. When complete,the new building will be located within the park at the northwestcorner of NW 108th Avenue and NW 103rd Street.

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