Miami International Logistics Center is located at 725 SE 9th Court in Hialeah in the Airport East sub-market. It is one of the closest warehouse distribution centers to both PortMiami and Miami International Airport. The 506,000 sq. ft. warehouse building sits on twenty acres. The Hialeah warehouse spaces for rent are from 3,000 to 80,000 sq. ft. and up. Some of the property’s features include: dock height loading, 24/7 security, CSX railroad (can be activated), fully sprinklered, outside storage, and more. Current tenants include Alsina Forms, Dupuy Logistics, Mandarin Orange and Interport Logistics. The property is owned by Mr. Gerard Keating of KR Miami. Short term leases may be considered making these warehouse spaces ideal for overflow and/or dead storage.

For more information and/or a tour, please contact the leasing team: Ed, Chris, or Edison at 786-433-2380.

In ComReal Miami’s year end report for 2011, we wrote about the “return of the landlords” and about the announcements of speculative construction for several, new warehouse projects. In 2012, the theme was absolutely “breaking ground!” as eight new projects commenced. It was very good to see vertical construction in Miami occur once again. ComReal reports that the total amount of warehouse space that was completed and/or nearly-completed in 2012 was about 2,200,000 sq. ft. In addition, new warehouse buildings are going to be constructed in 2013 in Beacon Lakes, Flagler Station, Miami International Tradeport, Airport North Industrial Park, South Florida Logistics Center and Miami International Logistics Center. This year we can expect to see more new construction, some in-fill developments, some re-developments of existing warehouses plus even some demolitions of older, non-functional buildings.

In comparison to the end of the year in 2011, 2012 ended with slight increases to both the average sales price and lease rate; $64 per sq. ft. and $7.54 per sq. ft. respectively. The vacancy rate dropped from 7.9% to 6.7%. Although the positive absorption was only 2,080,000 sq. ft. (down from 2,508,000 sq. ft.), that is a very good sign considering that we had new warehouse space delivered to the market.

The grand finale of the year, was the late-December closing on 45 acres located at 7500 NW 82nd Place in Medley by L&B Realty Advisors. The price was $45,000,000 or about $11.75 per sq. ft. plus the cost of the additional site work that will be needed. Butters Construction & Development will be constructing over 900,000 sq. ft. of warehouse space for what is now being branded as Airport North Industrial Park.

Miami continues to be one of the most dynamic markets in the entire country. No city in the USA may benefit more than Miami from the Foreign Trade Agreements (FTA’s) and Foreign Trade Zones (FTZ’s) thanks in part to the U.S. Department of Commerce. The federal, state and local investments to our infrastructure and transportation systems will secure the foundation for developing our overall industrial real estate market.

On a side note, our team appreciates all of your support this past year. We look forward to working with you in 2013 and beyond. Like many of you, the past few years have been challenging for our team, our staff and our families. However, with your support and patronage, we were able to re-build ourselves to help serve you better than ever. Looking back, the work was never easy, but we always did business the right way. We would not have it any other way. Thank you very much.

In case you missed our prior report, you may click this link for ComReal’s Miami Industrial Real Estate Market Report for the 3rd Quarter, 2012. >>>

New Construction Report:

The ComReal Miami Industrial Team is pleased to present this report on new construction of industrial warehouses in Miami. At the time of this report, there was over 1,000,000 sq. ft. of newly-completed and/or nearly-completed warehouse buildings in 2012. For our brief summary of the report, please visit New Industrial Warehouse Construction in Miami. >>>

Miami International Commerce Center – 8000 Flex Space Building:

ComReal Miami is pleased to announce their representation of PS Business Parks for the lease of their 45,000 sq. flex space in Doral. The Doral flex space building is comprised of both office and warehouse space that is divisible from about 7,500 sq. ft. and up. The property is located at 8000 NW 25th Street in Miami International Commerce Center (MICC) in Doral, Florida.Visit the property website at www.FlexSpaceMiami.com >>>

Miami International Logistics Center:

ComReal is pleased to announce the pending construction of a new class A warehouse named Miami International Logistics Center. The class A, bulk-sized 400,000 sq. ft. building will be one of the closest warehouses to Port Miami and Miami International Airport. The twenty acre site is located just off the Airport Expressway (State Road 112) which is less than twenty minutes from the port and airport. The completion date of this nearly $40M project is expected by May 2014. If having a warehouse near Port Miami is important for your Miami drayage operations then this is the property for you. Please visit Miami International Logistics Center. >>>

Miami Commercial Real Estate Event(s):

Join the the Miami-Dade District of the Certified Commercial Investment Members (CCIM) for their annual Outlook Conference. Expect 300 commercial real estate professionals in attendance. Ed Redlich, CCIM, SIOR will be presenting the Industrial Report. For more details and/or to RSVP visit: CCIM Miami Commercial Real Estate 2013 Outlook Conference. >>>

South Florida Distribution Warehouse Sold:

Congratulations to Ronald “the Silver Fox” Winokur of The ComReal Companies for the successful closing of this South Florida warehouse formerly known as Carl’s Furniture. The sales price was $12,700,000 making it one of the largest sales for 2012. The mixed use building totals over 400,000 sq. ft. Read more about the transaction at South Florida Warehouse. >>>

Miami Warehouses Leased in 4th Quarter 2012 (partial list):

Miami Warehouses Sold in 4th Quarter 2012 (partial list):

Service Provider of the Quarter:

If you are considering a financial consultant, we recommend consulting with Mr. Eric Garcia of Popular Investments in Miami. Eric can assist you by making educated choices. There are voluminous stocks, bonds and other investments to select from; each with various degrees of rewards versus risks. Both new and seasoned investors should consider retaining their own financial adviser. Popular Investments will serve your needs and help make you achieve the financial success you deserve. For more info, please contact Eric J. Garcia at 305-335-5333.

Site Plan for Miami International Logistics Center

The new owner / developer will be Gerard Keating of Keating Resources. The leasing brokerage team will be Ed Redlich, SIOR, CCIM; Chris Spear and Edison Vasquez of the ComReal Miami Industrial Team.

The center will have dock height loading, extra trailer parking and/or outside storage, 50′ x 50′ column spacing, and 40′ high ceilings. Other special features may include CSX Railroad, Foreign Trade Zone (FTZ) status and the Florida Enterprise Zone.

View looking east to Port Miami

View looking south to Miami International Airport

Map to Miami International Logistics Center

Click the above Map for a larger view and/or click here for a Google Map. >>>

In February, please be sure to visit the property website at www.MiamiInternationalLogisticsCenter.com. Or, for the complete brochure now, please click here. >>> For more information, please contact Ed Redlich, SIOR, CCIM and the Miami Warehouse Team at 786-433-2380.