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| Sky Groden |
Both leases were executed at Medley Logistics Park, a three-building industrial development in Medley, Florida.
The buildings are located at 12600 NW 115th Avenue and 12630 NW 115th Avenue.
A national warehousing and distribution company renewed its 134,000-square-foot lease at the park, while a beverage distributor signed a new lease totaling 35,000 square feet.
NKF’s Executive Managing Directors Steven Medwin, SIOR, CCIM, and Nick Wigoda, SIOR, represented the institutional landlord, while Sky Groden of JLL represented both tenants.
NKF’s Executive Managing Directors Steven Medwin, SIOR, CCIM, and Nick Wigoda, SIOR, represented the institutional landlord, while Sky Groden of JLL represented both tenants.
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| Steven Medwin |
“The success of these deals speaks to the benefits of modern logistics buildings, like Medley Logistics Park, that offer Turnpike visibility, excellent highway access and a strong institutional owner that knows how to treat an existing customer,” added Wigoda.
According to NKF Research, Miami’s industrial market is outperforming Florida’s other major metro areas and held onto the lowest vacancy rate in the state for a third consecutive quarter.
Medley is the fourth largest industrial submarket in Miami, totaling 27 million square feet.
During the first half of the year, Medley led demand for warehouse space with 300,000 square feet of net absorption.
In 2Q19, Medley’s vacancy rate declined 1.2% despite having 420,000 square feet of new product under construction.
CONTACTS:
Medley is the fourth largest industrial submarket in Miami, totaling 27 million square feet.
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| Nick Wigoda |
In 2Q19, Medley’s vacancy rate declined 1.2% despite having 420,000 square feet of new product under construction.
CONTACTS:
Liz Maddux
· Assistant Account Executive
1718 Peachtree St., Suite 1048
· Atlanta, GA 30309
M: 478-972-3210
www.ngkf.com.
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