FEATURED NEW LISTING // 1800 NW 89 PL. DORAL, FL. AMERICAS’ GATEWAY PARK | AVAILABLE FOR SALE!

• PROPERTY SIZE: +/- 106,046 SF
• COOLER WAREHOUSE: +/- 62,640 SF
• DRY WAREHOUSE: +/- 6,890 SF
• OFFICE: +/- 36,516 SF
• LOADING: 22 DOCKS / 2 RAMPS

The Midyear 2015 Industrial Real Estate Market Reports shows that the Vacancy Rate has fallen once again to just under 5% and the Average Lease Rates are up to $8.62 per sq. ft. This marks the eleventh consecutive quarter since 2012 of such trends. Prospective buyers and tenants continue to find it increasingly difficult to acquire functional and economical warehouses to suit their business needs. Sellers and landlords have the high ground while buyers and tenants struggle to do their best to negotiate price and terms. So far this year, over 2.5M sq. ft. have been absorbed which is extremely healthy for our market. In addition, there have been multiple lease and sales transactions to users occupying over 100,000 sq. ft. warehouse spaces. This is another good sign. Some developers cannot seem to construct their new warehouses fast enough, while other projects seem to linger on the market due to various reasons.

In case you missed our prior report, you may click this link for ComReal’s Miami Industrial Real Estate Market Report for the 1st Quarter of 2015. >>>

Americas’ Gateway Park Building Sold for $10M!!!

June 2015 – The ComReal Companies are pleased to announce the sale of the Americas’ Gateway Park Building located at 1800 NW 89th Place in Doral, Florida. The property consists of 110,500 sq. ft. building with a refrigerated warehouse and 30% office space. The sales price was $10,000,000 (or $90 per sq. ft.). The seller was Mr. Peter Ullrich and the new owner is Freshworld Logistics. This was the first and only time that this building has ever been on the market for sale. If you would like to read more details on the sale as well as some trends with refrigerated warehouses, please visit Doral Cooler Warehouse Sold to Freshworld Logistics. >>>

What You Should Know About Renewal Rates by Chris Spear:

Renewal lease rates are skyrocketing and companies are experiencing sticker shock as they receive renewal proposals from their landlords. Five years ago, the market had bottomed. Leases involved many months of free rent, low rental rates, and an abundance of tenant improvement dollars. Today, those same companies face the reality that they may have to pay 20-25% over their current rental payment. So where does this leave you, the tenant? To discover how you can best approach your landlord to discuss a renewal, finish reading here: Renewal Rates & What You Should Know. >>>

Miami Warehouses Leased in 2nd Quarter 2015 (partial list):

Miami Warehouses Sold in 2nd Quarter 2015 (partial list):

Florida Perishables Industry Opposes APHIS Fees:

In collaboration with Port Miami and other stakeholders, ComReal Miami stated it’s opposition to the USDA/APHIS
proposal which will charge new exorbitant fees on the perishables distribution industry. The increase on both imports and exports of perishables will result in higher costs for consumers and/or members of the supply chain. Click this link to read our letter opposing the APHIS proposal. >>>

Ed Redlich 20 years Anniversary !!!

Panamanian American Chamber of Commerce

ComReal is pleased to announce that it has renewed it’s membership with the Panamanian-American Chamber of Commerce at the level. In addition, Ed Redlich is planning another trade mission this year to Panama City to tour the Panama Canal and other business opportunities. For more information, please visit the Panamanian American Chamber of Commerce at www.paccmiami.com.

Focusing on past relationships and utilizing new technology drove ComReal’s sale of this trophy property. In the 1980’s, ComReal’s founder and president Stephen H. Smith, SIOR assembled and participated in the development of Americas’ Gateway Park. In 1989, Smith and ComReal assisted Peter Ullrich in the acquisition of the undeveloped six acres. The site is located in the corner of the park with 180 degrees views of the Fingerlakes. Mr. Ullrich then constructed a state-of-the-art refrigerated warehouse facility which was certainly ahead of its time in 1990. Several terraces, a three-story glass atrium and executive offices overlook the lake which are rare features with industrial properties in Miami.

As stated, technology also played a distinct role in this sale. ComReal’s Industrial Team including Ed Redlich, Chris Spear and Edison Vasquez, used the latest technology to create a marketing plan. Photos and videos captured by an aerial drone by Sky Drone Logistics (see www.SkyDroneLogistics.com) were used to build a unique website specific to the property. A two-minute commercial was also created and available worldwide via www.AGPBuilding.com. Not only was this technology useful in the sale, but the associates of the new ownership were also able to preview the property in Ecuador before arriving in Miami. Click here to watch the Aerial Drone Video on YouTube. >>>

Upon sale, the property was operated by Esmeralda Farms, Connectaflor and Continental Farms; each is very well known within the flower industry and plans to remain in the facility. The new ownership, Freshworld Logistics, is also in the flower distribution business. The principals are Patricia and Jorge Garces. Their distribution company, G&G Cargo Services, has been in Miami since the year 2000 and imports flowers from over twenty countries around the world. Prior to closing on this property, the Garces sold their 28,500 sq. ft. warehouse at 2605 NW 75th Avenue to a seafood company for $3,700,000 (or $130 per sq. ft.). Visit them at www.ggcargo.com.

“Warehouses in Miami are very cool right now. Literally.” stated Ed Redlich. “The perishables industry is extremely active in Miami’s industrial market. Both the flowers and foods industry are each competing for the same warehouses to keep up with their growth and expansion.” Below is a list of recent, significant transactions in Miami involving refrigerated warehouses.

Having been instrumental in half of the above-mentioned transactions, ComReal dominates this product. “Our team tracks every refrigerated warehouse in Miami-Dade County. It is not uncommon for us to know when a property is available before it becomes publicly listed on-the-market for sale or lease.” exclaims Edison Vasquez. “We also maintain very good working relationships with those in the foods, produce and flowers industries”. Vasquez was born in Ecuador, one of the largest exporters of flowers to the USA. He notes that “Miami International Airport receives over 90% of all fresh cut flowers being imported into the USA. This large supply of flowers creates the high demand for refrigerated warehouses especially on the west side of the airport”.

Redlich also points out “We are often asked by our clients in the perishables industry what is the total capacity for refrigerated warehouses in Miami. The answer is that with over 230M total sq. ft. and dozens of business parks with excess vacant land, we have an unlimited capacity for businesses needing cold storage. If a warehouse with existing refrigeration systems cannot be acquired, then a dry warehouse can be re-purposed to suit their needs.” Redlich serves on the PortMiami Perishables Committee and has traveled on trade missions to Panama, Peru, Colombia, the Netherlands, Germany, China and Hong Kong to learn more about the production and cold chain processes for foods, produce and flowers transported around the world.

Now that the transaction has been finalized, what is next for the ComReal Industrial Team? Chris Spear is pleased to report that they have just listed one of the largest, available refrigerated warehouses in South Florida. The Miami Gardens warehouse is 80,000 sq. ft. in size. It is located halfway between PortMiami and Port Everglades just off I-95 and on the CSX Railroad line. The warehouse was formerly occupied by Preferred Freezers and Sysco Foods. For more information on this property, including an aerial video tour, please visit www.MiamiCoolerWarehouse.com.

Doral, FL – ComReal Miami’s Industrial Team, comprised of Chris Spear, Edward Redlich and Edison Vasquez successfully assisted Triton Window Distributors in the purchase of their new Doral headquarters.  The Doral warehouse consists of 10,000 sq. ft. and is part of the Americas’ Gateway Park community.  The property is located at 8888 NW 24th Terrace, in the Doral industrial area.

Triton Windows Distributors has had growth over the last few years and the purchase of the new Doral warehouse is a part of their strategic plan for the future. Chris Spear led the Miami Warehouse Team with this assignment, and Triton now has a space that is aligned with their plans.

Triton contacted Chris Spear, in January 2012, to seek ComReal’s assistance in locating a warehouse in Miami-Dade County.  ComReal prepared several packages which included a variety of warehouses from Doral to Medley.  After touring several properties, Triton Window Distributors chose the warehouse in Americas’ Gateway Park because the warehouse allowed for their future growth and the negotiated price was below the market.

Triton Window Distributors’ mission is: “to provide our customers with the lowest price in the market while delivering a finished product that stands out above all others…We complete this mission by only representing products that we feel meet and exceed the toughest standards and keeping our customers 100% satisfied.”

For more information on ComReal Miami, please visit www.MiamiWarehouseTeam.com.

For more information on Triton Window Distributors, please call 305-716-4900 or visit www.TritonWindow.com.