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International Logistics Company Inks 109,000 SF Lease At Miami Logistics Center

International logistics company Kuehne + Nagel Group just expanded its footprint in Miami-Dade County with a 109,000-square-foot lease at the recently completed Miami Logistics Center in Hialeah Gardens.

Kuehne + Nagel Group inked the lease at the 255,846-square-foot building at 10701 Northwest 140th Street, raising the building’s occupancy to 80 percent from 40 percent. The building opened about five months ago, according to State Street’s Frank Trelles.

Doral-based State Street Realty represented the landlord Duke Realty, which paid nearly $80 million last year for the three-building industrial park, just east of the Ronald Reagan Turnpike and south of 138th Street.

The asking rent is about $9.15 per square foot, according to marketing materials. The industrial park totals nearly 677,000 square feet and offers space for more than 230 trailers and 32-foot-tall ceiling heights. Bridge Development Partners developed and sold the industrial park.

Kuehne + Nagel Group has at least three other offices in and around the Airport West-Doral submarket.

 

Source: The Real Deal