Floral Logistics of Miami, Inc. announces its lease acquisition of 277,000 sq. ft. of warehouse space at Miami Cargo Park. Floral Logistics is a perishables transportation, logistics and warehouse distribution specialist that was originally founded in 1983. In addition to this refrigerated facility, they operate a fleet of 53’ refrigerated trailers. Their new operation at Miami Cargo Park will now allow them to increase their logistics services for all perishables including fresh cut flowers, plants, foods & beverages, seafood, produce and pharmaceuticals. Floral Logistics operates as a full-service handling company that clears and picks up imported product from the airport, pre-cools, consolidates and distributes it. Miami Cargo Park is a 426,000 sq. ft. warehouse building located at 3400 NW 74th Avenue in the Miami Airport West Dade submarket. The park is highly secured, fenced and with a large courtyard for loading and parking. The property is located near both the Palmetto and Dolphin Expressways offering easy access to those in the transportation industry. In addition, the cargo entrance to Miami International Airport is just a couple of minutes away. Several years ago the ownership, Cargo Ventures, completely renovated the property including the interior and exterior, office spaces, landscaping and roofing system. The most impressive upgrade of all was the installation of the state of the art refrigeration system in the warehouse section that has 30’ high ceilings.
“There were three lease transactions that closed in December in Miami-Dade County that each measured over 250,000 square feet.” states Edward Redlich, SIOR, CCIM who is the Vice-President of ComReal Miami. “All three of these transactions are expansions and relocations of their existing warehouses. The enormity of this particular transaction and its expeditious closing is a testament to the current strength of Miami’s industrial real estate market. The vacancy rate has fallen from a high in 2009 of 12% to now just under 8%.”
In November, ComReal was retained by Cargo Ventures to market Miami Cargo Park for lease after the prior tenant, Trans World Forwarding (TWF), began to vacate the premises. Within thirty days, ComReal procured several prospective tenants. The transaction was closed shortly thereafter in December of 2011. Redlich also notes that ComReal has two additional leases pending with two other perishables distribution companies for refrigerated warehouses located in Airport West Dade; the sizes are 53,000 sq. ft. and 25,000 sq. ft. respectively. For more information, visit the website for the Miami Cooler Warehouse. >>>