Indcor Inks Largest Miami Lease of 2013

MIAMI—In the largest transaction to date in 2013, SeaFreight Agencies has signed a new 148,750-square-foot long-term lease in Doral. SeaFreight from IndCor Properties at its International Corporate Park.

Transwestern's Walter Byrd and Ben Eisenberg, managing directors of the South Florida offices, along with senior vice president Thomas Kresse, and associate Carlos Gaviria, represented SeaFreight. Jones Lang LaSalle represented IndCor.

SeaFreight is expanding from its current 50,000 square foot location in Doral. SeaFreight will occupy the space along with Seapack, a related company.

“Our new space requirements are reflective of our companies continued growth and commitment to meeting our clients needs,” says Mark Kearns, president of Seapack. “Miami is an epicenter to global distribution and it was important we had a significant footprint.”

Located at 9950 NW 17th Street, the class A freestanding building includes 16,000 square feet of office space. The site offers warehouse square footage, trailer spots and dock high door ratio.

Kress says SeaFreight was looking for a “highly efficient and functionally flexible location that matched their growing business requirements.” Kresse also reports an “uptick in demand for square footage between 100,000 and 200,000 and mostly to fuel expansion."

JLL's Steve Medwin says the transaction further validates Miami as a global industrial gateway market. “Sophisticated institutional landlords and tenants alike understand the importance of growing their presence within the region,” he says. "We continue to experience significant absorption, coupled with increasing rental rates. These key indicators point to a continuing market recovery."