This Airport North Industrial Stands Out

MIAMI—Building One at Airport North Logistics Park has delivered to Miami's industrial real estate market a year after its developer, L&B Realty Advisors, broke ground. The 255,900-square-foot industrial building is the first of four L&B plans to build at the 44.5-acre site.

“Prospective tenant interest in the site has been strong,” says Casey Griffis, an associate director with L&B. “And now that we have a new road to the site, four walls and a roof, I expect that to lead us to our first tenant fairly soon.”

Airport North Logistics Park sits at the northeast quadrant of Northwest 74th Street and Northwest 82nd Avenue at 8501 Northwest 80th Street. Butters Construction and Development built Building One, which offers clear ceiling heights ranging from 30 to 34 feet, 60-foot speed bays, 51-plus foot column spacing, T-5 energy-efficient lighting, a 120-foot truck court, and an ESFR fire sprinkler system.

“The building's size, premium location and timing should fill a need for large-scale bulk distribution space in our market,” says Wayne Ramoski, executive director with Cushman & Wakefield. “We're the only game in town west of the Palmetto that can accommodate a 200,000 square foot user that has an immediate need for occupancy and cannot wait for a new building to be built.”

With a target completion date of 2015, Airport North Logistics Park will include four institutional-quality, single and multi-tenant buildings ranging from 96,000 to 323,000 square feet. The park will feature rear-load and cross-dock facilities with building depths between 200 and 300 feet.

“It's a very exciting time for industry, with so many changes taking effect,” says Bill Waxman, executive vice president of CBRE's Global Port Logistics Group. “The changes in the logistics world upset the status quo and I think that the real estate industry has done a great job of reacting to it and will continue to do so. In the foreseeable future, I think we'll see continued strong activity, new construction and readaptation and should expect to reach equilibrium within the next year.”