MIAMI—Industrial heavy hitters Steve Medwin and Nick Wigoda have joined Newmark Grubb Knight Frank. Both will serve as executive managing directors in the Miami office.

Medwin and Wigoda together have closed some of the largest commercial real estate transactions in Miami, including Ryder Systems' $42 million headquarters acquisition, the $48 million sale-leaseback of the Dade Paper Company headquarters, and United Technologies' $17 million land acquisition. In the past few years, the duo has completed more than 4 million square feet of leases and 1.5 million square feet of sales.

“Medwin and Wigoda are yet another set of marquee hires as we expand our South Florida footprint and position the region for growth and market share,” says Geoffrey Kasselman, executive managing director and national leader of NGKF's industrial services practice. “Both brokers are established players with pedigree, track record and a strong client following.”

Medwin spent nearly six years with JLL, where he focused on owner and tenant representation, building sales, land sales, industrial investment sales, before joining NGKF. He has represented some of the largest institutional landlords in the region, including Global Logistics Properties, Morgan Stanley Investment Management, Industrial Property Trust and GBX Capital. With over 26 years of expertise, Medwin has completed more than 1,000 industrial real estate transactions, covering millions of square feet and valued in excess of $2 billion.

“We're seeing continued demand from corporations looking to expand their footprint in South Florida,” Medwin tells GlobeSt.com. “Local consumption, from continued in-migration and the booming tourism sector, are driving these expansions. We're also seeing a steady flow of new-to-market industrial tenants in South Florida.”

Wigoda previously served as executive vice president in JLL's Miami office. He specialized in commercial real estate sales and leasing transactions involving occupiers, owners and investors. Wigoda's institutional investor client list has included top REITs and private equity firms as well as corporate occupiers in South Florida and throughout the country.

“Institutional capital continues to drive industrial property prices higher – surpassing pre-recession peaks,” Wigoda tells GlobeSt.com. “There just isn't enough supply to satisfy investor demand. Despite all of the new deliveries, demand continues to outpace supply, leading to higher rental rates in nearly every submarket. Most speculative buildings are being absorbed within a few months of completion.”

MIAMI—Industrial heavy hitters Steve Medwin and Nick Wigoda have joined Newmark Grubb Knight Frank. Both will serve as executive managing directors in the Miami office.

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NGKF Scores Duo of Industrial Heavy Hitters

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