MIRAMAR, FL-International Aircraft Associates Inc. has signed a lease to expand from 4,000 sf to 10,000 sf of primarily warehouse space at the Miramar Park of Commerce.

International Aircraft Associates distributes commercial aviation engine and airframe parts and provides engine management services. The Miami-based company, which has been a tenant in the park since 1999, plans to move into a new location within the park in February. The company will relocate its warehouse and distribution center to MPC-5 at 3320 Executive Way.

The value of the mid-term lease was not disclosed; however, based on average rates in the Miramar submarket of Broward County, the lease is estimated to be valued at approximately $280,000 or more.

In the past five years, the park has become an aviation services firms’ hub. Aviation-related park tenants include Spirit Airlines, Praxair Aviation Services, Elite Aviation and Eriks Aerospace. Miramar Park of Commerce has more than four million sf of space completed and is the county’s biggest corporate park. The more than 120 tenants there include American Express, Federal Express, DHL, USA Today, Caterpillar, Sears and Nissan.

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