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MIRAMAR, FL-Texas-based Neiman Marcus has signed a 10-year, 54,000-sf warehouse/distribution lease at the 400-acre Miramar Park of Commerce. The estimated aggregate value of the lease is $3.43 million.

The department store will use the new space to supply current and future stores in the state. Ken Day, the firm’s Longview, TX-based vice president of selling support services, tells GlobeSt.com the facility will entralize such services as alterations, wrapping and mailing now done at each store.

The upscale retailer opens its third South Florida branch Nov. 24 in the Worth Avenue retail district of Palm Beach. That 49,000-sf store will be joining existing area branches in Bal Harbour, FL and the Fort Lauderdale Galleria.

In the wings is another South Florida store slated for the Village of Merrick Park in Coral Gables, FL as well as Central Florida locations in Tampa and Orlando. Local warehouse/distribution space averages $6.36 per sf, triple net, according to Colliers International.

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