X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MIAMI-Tropicana Products, a Bradenton, FL-based division of Pepsi Co., is planning to move into a new 25,238-sf space in Miramar Park of Commerce by the end of May. The company currently occupies about 18,000 sf, and is relocating its South Florida sales office and warehouse down the street within the park to accommodate necessary expansion, Maridee Bell, a broker involved in the deal, tells GlobeSt.com.

“We’re building them out new space,” Bell says. “Tropicana is doing very well. Business is booming for them.”

Terms of the new lease were not disclosed. However, the new lease is for at least five years and estimated to be worth at least $700,000, based on the average rental rate for the submarket in the first-quarter Broward County industrial report by Cushman & Wakefield.

Tropicana Products has 34 employees in the park, up from 10 workers six months ago. The company has been a tenant in the park for the past 10 years.

Bell of Sunbeam Development, the park’s developer, represented the park in the transaction.

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

GlobeSt

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.