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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.

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