Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MIAMI-Beacon Station has signed three new tenants on retail leases totaling 30,000 sf and valued at about $700,000, as Florida’s largest business park begins to experience a new wave of tenant interest, Flagler Development Co. representatives tell GlobeSt.com.

Stewart Pearlman, Flagler’s vice president/regional manager, would not disclose leasing details. The average asking rent in Beacon Station is $5.40 per sf to $6.35 per sf. Based on these numbers, the combined estimated lease value of Beacon Station’s latest production is $709,200.

The three newest tenants are Adex International, 16,550 sf at 10125 N.W. 116th Way, with an estimated lease value of $397,200; All Wood Creations Inc., 7,200 sf at 11701 N.W. 102nd Road, estimated value, $172,800; and Pramac Industries, 5,800 sf at 10100 N.W. 116th Way, estimated value, $139,200.

Pedro J. Garcia and Stuart T. Gordon of Codina Realty Services Inc. ONCOR International represented Flagler Development in all three transactions. Patricia Marquez with Westvest Associates Inc. represented All Wood Creations. There was no co-broker in the Adex International and Pramac Industries deals.

About a month ago, Beacon Station signed three new industrial leases. They were General Mills Operation Inc., 32,700 sf at an estimated value, $1.54 million; ATC Group Services Inc., 17,326 sf , estimated value, $815,015; and Florida Distribution and Logistics, 12,000 sf, estimated value, $564,480.

Beacon Station will have more than nine million square feet of office, warehouse, distribution, retail and showroom space on 960 acres at full buildout. Phase I comprises 2.5 million sf; Phase II, 6.5 million sf. The park currently has 4.5 million sf and is 94% occupied.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.