XCC Logistics Renews for 30,000 SF of Industrial Space in Doral

(Save the date: RealShare Industrial 2012 comes to The Bankers Club, Miami, December 5 - 6.)

MIAMI—The Dolphin Commerce Center just inked a 30,000-square-foot lease renewal for XCC Logistics, a Panamanian cargo company specializing in providing personalized logistic services. The firm has offices in the U.S. and Panama.

Walter Byrd and Ben Eisenberg, managing directors of Transwestern’s South Florida offices, Thomas Kresse, senior vice president, and Carlos Gaviria, associate, completed the transaction on behalf of XCC Logistics. XCC Logistics is securing its position to leverage opportunities associated with the widening of the Panama Canal.

Located at 11200 NW 25th Street in Doral, XCC Logistics plans to capitalize on the ease of access to the Florida Turnpike and 836 Expressway. As industrial real estate sale prices in Miami-Dade County hit record levels and vacancy rates continue declining, more companies like XCC Logistics are looking to secure renewals now.

“This past year, we have seen a lot of tenants in the market 12 to 18 months out,” Kress tells GlobeSt.com. “Due to all of the existing and planned construction in Doral and Medley, it's easier for tenants to see available inventory this far in advance and plan accordingly. I have seen landlords become more aggressive in approaching their tenants and pushing for early renewals.”

Recently, a mini building boom began in the warehouse district west of Miami International Airport. In particular, in Miami-Dade nearly 1 million square feet of new warehouse construction is being built on spec while South Broward will be bringing nearly 350,000 new warehouse construction to the market. The overall market is robust and driven by institutional investors seeking to take advantage of Miami's advantageous points of access to the Americas.

Kress says the market has been spotty this year on the industrial front. He doesn't think there is a shortage of certain inventory. However, he has seen a handful of larger requirements that the existing inventory cannot accommodate and they are potential BTS candidates.  

“We continue to trend in the right direction with an overall healthy market,” Kresse says. “There is a very strong appetite amongst the Institutions to buy in Miami-Dade County. Land is still scare and continues to increase in value. More speculative building is planned through 2013 in Doral, Medley and up into Miramar.”