L & B Picks CushWake to Lease Up Pending Industrial

MIAMI—As new industrial inventory hits the market, the competition for top tenants is heating up. Hoping for a rapid lease up, Dallas-based L&B Realty Advisors handpicked Cushman & Wakefield's South Florida office to manage the marketing and leasing of the new 918,000-square-foot, class A bulk distribution and industrial project in Miami known as Airport North Logistics Park.

CushWake's Wayne Ramoski, Gian Rodriguez, and Margaret Sidor are heading the leasing effort at one of the few class A industrial projects to be built outside the Airport West and Medley submarkets. Phase One of the development will be located in the Airport North submarket on a 44.5-acre site in the northeast quadrant of Northwest 74th Street and Northwest 82nd Avenue.

“One of the first things that came to our attention was the site's immediacy to the major thoroughfares connecting the region's air and seaports, as well as ALP's central location in comparison to competitive projects,” says Casey Griffis, an associate director with L&B Realty Advisors. “What sets us apart is our value and efficiency. ALP offers an alternative to the new industrial developments located further west in the Airport and Medley submarkets.”

ALP's first building, which is being constructed by Butters Construction and Development, will offer about 255,900 square feet of industrial space and is expected to be delivered June 2014. The building will offer clear ceiling heights ranging from 30 to 34 feet, 60-foot speed bays, 51-plus foot column spacing, T-5 energy-efficient lighting, 120-foot truck courts and an ESFR fire sprinkler system.

“We are encouraged by the strong interest we've already received in the project and the positive reaction to ALP's location,” says Ramoski, executive director at CushWake. With a target completion date of 2015, ALP will include four institutional-quality, single and multi-tenant industrial buildings ranging from 96,000 to 323,000 square feet. The industrial park will feature rear-load and cross-dock facilities with building depths between 200 and 300 feet.