Excelitas Technologies Corp. Invests $2.3 Million in New Pittsburgh HQ

 

Gov. Josh Shapiro
(Photo courtesy of Wikipedia)

HARRISBURG, PA – Excelitas Technologies Corp., a leader in photonics technology, has chosen Pennsylvania as the new home, a $2.3 million investment, creating at least 250 jobs in Pittsburgh over the next four years.

Currently located in Waltham, Massachusetts, Excelitas has committed to a 12-year lease for up to 50,000-square-feet of space in Pittsburgh’s Strip District neighborhood.

Pittsburgh’s Strip District neighborhood
(Photo courtesy of Pittsburgh Visitor Guide)

Pittsburgh’s Strip District has transformed from its historical roots as a center of manufacturing and warehousing into an epicenter of innovation centered around tech and innovation, which includes robotics/autonomy.

 Pittsburgh is home to nearly 1,800 technology firms, including 100+ robotics companies.

“For the past year, I’ve been telling the world that Pennsylvania is open for business ― and Excelitas clearly agrees,” said Pennsylvania Governor Josh Shapiro.

“Excelitas is a leading player in a growing field, and its presence in Pittsburgh will not only create jobs and real opportunity for Pennsylvanians but also send a clear signal that Western Pennsylvania is a national hub for life sciences, advanced manufacturing, and more.”

Since January 2023, Governor Shapiro has announced more than $1.2 billion in new private-sector investment in Pennsylvania as a direct result of his Administration’s work.

Ron Keating

“The Pittsburgh region has developed a significant high-technology presence, combined with a strong work ethic and an engaged state and local leadership who understand the value of job creation,” said Ron Keating, Excelitas Technologies CEO.

“These factors provided attractive competitive differentiators when we undertook our site selection process. We would like to thank Governor Shapiro and his Administration for their strong and compelling support.”

CONTACT:

 

Claudia Velasquez 

:claudia@violetpr.com

 

 

Lee & Associates South Florida Promotes Key Industrial Team Member Michael Avendano as Senior Vice President

Michael Avendano 

  

MIAMI, FL– Lee & Associates South Florida promoted a pivotal member of its team of industrial real estate specialists, with Michael Avendano becoming a Senior Vice President with the firm. Based in Miami, both Avendano was previously Vice President. 

Avendano joined Lee & Associates South Florida in 2020, following two years with Beacon Commercial Realty. He specializes in industrial sales and leasing.

 Matthew Rotolante

“Michael is a rising star with our brokerage,” Lee & Associates South Florida President Matthew Rotolante said. “He earned this promotion through his tremendous production and the example he sets for the rest of our team. I am excited to support his continued growth as Senior Vice President.” 

Notable recent deals brokered by Avendano include: 

Prologis Beacon Industrial Park 

• Representing a pharmaceutical company in a 12,800-square-foot industrial lease within Prologis Beacon Industrial Park 
• Completing a long-term lease for a 27,450-square-foot build-to-suit warehouse in Tampa on behalf of Ontario, Canada-based Plan IT Packaging Systems 
• Representing the seller (along with Rotolante) in the $4.39 million sale of a commercial assemblage in Miami’s Wynwood neighborhood 

Avendano is a member of the Commercial Industrial Association of South Florida (CIASF). He received a bachelor's degree from Florida International University. A Miami native, Avendano is bilingual (English and Spanish). 

 

 CONTACT:

 

Eric Kalis

Senior Vice President

ekalis@boardroompr.com

C 305-794-5123

O 954-370-8999

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lee-associates.com 

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JLL Capital Markets arranges $38.5 million sale of Milpa & Wesley industrial Center in Miami, FL

Taylor Osborne 

  MIAMI, FL –  JLL Capital Markets has arranged the $38.5 million sale of Milpa & Wesley Center, a 182,575-square-foot infill, shallow bay industrial portfolio in Miami, FL

 JLL represented the seller, Cofe Properties, LLC, and procured the buyer, Miami Palmetto Property, LLC, an entity co-sponsored by East Capital Partners and ABR Capital Partners’ GP Investment Program.

Aaliyah St. Louis

The JLL Capital Markets team was led by Managing Director Luis Castillo, Senior Director Cody Brais, Director Wells Waller, and Analysts Taylor Osborne and Aaliyah St. Louis.

Luis Castillo

The six-building portfolio is located at 6801-7500 NW 77th Ave. and boasts a high occupancy rate of 91%. The front-load industrial buildings feature clear heights ranging from 17 to 19 feet, providing ample vertical space.

 

The presence of 12 dock-high and 101 grade-level doors enhances the property's logistics capabilities. Additionally, the property offers ample parking for tenants and visitors with 275 dedicated spaces.

 

The Miami-Dade market has proven to be a safe haven for investment assets. Limited land supply, sustained demand and low vacancies have allowed landlords to maintain strong rental rates.

 

 The robust tenant demand has also given developers confidence, as over nine million square feet of new space delivered in 2021 and 2022 is already occupied at an impressive rate of over 98%.

 Cody Brais

“We are excited to announce the successful closing of this off-market industrial sale in the heart of Miami, Florida," said Cody. 

"This transaction is testament to the continued demand by investors for well-located shallow bay industrial that we are experiencing throughout Florida and the strong property level performance within the shallow bay property vertical.” said Cody.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

 

 The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

For more news, videos and research resources, please visit JLL’s newsroom. 

 

 

CONTACT:

 Alli Stent

PR, Hotels & Hospitality, Capital Markets

JLL
M +1 330 329 6750

jll.com. 

abrcapital.com.

https://eastcp.com.