Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

MIAMI-Rreef will begin construction of Turnpike Distribution Center, a 268,114-sf spec distribution facility in the Medley submarket in November. The estimated construction cost is $23 million, and to mitigate rising construction costs, the Chicago-based member of Deutsche Bank Group pre-purchased all the projected steel needed for build-out.

Rreef has owned the 17.8-acre parcel at the crossroads of the Florida Turnpike and SR #27 since 2001. Mike Nigro, VP of development, tells GlobeSt.com, “with market conditions as ripe as they are, we felt it was an attractive time to deliver this type of product to the market.”

He assigned exclusive marketing of the building to locally based Cushman & Wakefield of Florida. Wayne Ramoski and Brian Smith, senior directors, are leading the effort. “The rental rate is $6.95 per sf, gross, which includes a 10% office build-out,” He says this computes to approximately $1-per-sf less than Airport West rental rates “where absorption and rents are at an all-time high.”

The building, which will have a 30-foot clear ceiling height, has 1,400 sf of frontage along the Florida Turnpike. It also offers easy access to Interstate 75 and Miami and Fort Lauderdale.

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?


GlobeSt. NET LEASE Fall 2021Event

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

Get More Information


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.