Transwestern Commercial Services (TCS) announced a 364,608-square-foot, long-term lease renewal with CEVA Logistics at 5601 N.W. 72nd Ave. in Miami.
TCS South Florida industrial team Managing Director Thomas Kresse, Executive Managing Directors Ben Eisenberg and Walter Byrd, and Vice President Carlos Gaviria provide industrial leasing services on behalf of the landlord, Clarion Partners.
According to market research by TCS, Miami remains one of the nation’s most sought-after industrial markets with low single-digit vacancy and demand particularly focused in the Medley, Hialeah, and Miami Airport areas. As of year-end 2018, Miami-Dade industrial real estate saw net absorption of 1.3 million square feet and a 4.5 percent overall vacancy rate.
Devin White of CBRE represented CEVA Logistics, a global logistics supply chain company.