X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MEDLEY, FL-Makita Latin America Inc. has signed a lease for 24,866 sf of warehouse/distribution space from Flagler Development Co. at Beacon Station, a large local business park.

The company is relocating to the property at 11800 N.W. 102nd Rd. from Broward County.

Makita Latin America, which distributes power tools to the Caribbean and Latin and Central America, inked a five-year deal; and based on the average asking rental rate that ranges from $5.40 to $6.35 per sf gross at Beacon Station, the lease is estimated to be worth approximately $727,330.

The company chose Miami-Dade County because it was able to save more than $2 a sf for comparable distribution space, says Jean-Claude Conte, a broker involved in the transaction.

Conte, senior associate with the Palm Beach County office of CB Richard Ellis Inc., represented Makita Latin America in the deal. Pedro J. Garcia of Codina Realty Services Inc. ONCOR International represented Flagler Development Co., the owner of Beacon Station.

Beacon Station, located near Miami, is South Florida’s largest business park with about 4.5 million sf currently.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.