MIAMI—In a deal that illustrates there’s still a demand for older, larger industrial buildings in Miami, Copy Systems just inked a five-year lease at 5703 NW 35th Avenue. The industrial lease deal is worth about $1 million.
Franklin Street Real Estate Services brokered the 56,973-square-foot lease. Franklin Street’s Joel Kattan and Hernan Prohaszka represented the landlord, Galei Opa, LLC. Cushman Wakefield’s Audley Bosch represented the tenant.
“Despite many tenants wanting new space, deals are still getting done at larger, older facilities, although it’s harder,” Kattan tells GlobeSt.com. “The advantage we had with this property is that it’s unique in that the building has high ceilings, ample loading, similar to that seen in new facilities and a large yard. It’s an excellent facility.”
Last July, Kattan and Prohaszka represented the seller in the sale of the two industrial buildings located at 5701 and 5703 NW 35th Avenue to Galei Opa, LLC. Before Franklin Street took over marketing the properties they were vacant and on the market for two years.
“Galei Opa intended to use both for its manufacturing operation, but later decided to operate solely from the 5701 building,” Kattan says. “Copy Systems was looking to move to a larger facility and decided to head east and leave the Doral area where rents are about $8 per square foot as opposed to $3.25 square foot average east.”
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