X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MIAMI-In what may be the biggest industrial lease in many years in South Florida, a newly formed subsidiary of Southeast Frozen Foods LLC has inked a 300,000-sf, multimillion-dollar lease in the city’s Beacon Station Business Park.

As a result of the deal, the company now occupies the entire distribution facility Lincoln Logistics Center. The building is located at 9350 N.W. 108th Ave. The Southeast Frozen Foods subsidiary is using the facility for dry grocery items. The lease closed Sept. 26, and the company took occupancy Oct 1, according to Harry E. Wardell, a broker involved in the lease. The deal was completed in two weeks.

Wardell tells GlobeSt.com that the company is paying near market rent for the area.

Beacon Station, South Florida’s largest business park, will have about nine million sf of commercial and industrial space and amenity retail on 960 acres at full build-out; currently, the park has 4.5 million sf. Beacon Station typically signs mid-term deals and has an average asking rental rate of between $5.40 and $6.35 per sf gross for industrial space.

Wardell and Steven J. Medwin, both vice presidents with Lincoln Property Co. here, represented the property owner, Lincoln PO Miami LP, in the transaction. The company bought the building several months ago from Caterpillar Logistics.

Michael Sigerman of Lucky Commercial Realty and Lee Katsikos of The Doran Jason Group represented the tenant.

Locally based Southeast Frozen Foods also has a large frozen food warehouse of more than 200,000 sf in North Dade County, as well as other facilities nationwide.

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.