Miami’s economy is gaining speed, and major moves in big industries are keeping up with the pace.
The already healthy industrial market had a major success this week when Seaboard Marine, PortMiami’s biggest and most active cargo operator and freight company, signed the largest industrial lease by square foot inked in Miami-Dade since 2012.
Seaboard Marine renewed 267,400 square feet of industrial space for 10 years, including a 64,000-square-foot expansion at Prologis Palmetto Tradeport in Medley, Florida. From these facilities, the company has served over 40 ports in 25 countries throughout the past 20 years, and employs nearly 600 people between its PortMiami and Medley sites.
Senior Vice President of Jones Lang Lasalle, Jonathan Kingsley, who represented Seaboard in the transaction, said of the deal: “The transaction ensures Seaboard’s continued presence in Medley, while creating positive absorption of leasable space for Miami-Dade’s industrial market.”
The location in Medley will allow Seaboard to have a greater flexibility with additional trailer parking and greater rail connectivity. You can read all the buzz about the deal on GlobeSt., South Florida Business Journal, The Real Deal, CRE Sources, and City Biz List.