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Ryder To Sell Miami Headquarters To Industrial Developer Planning To Redevelop Site With Warehouse Space

The headquarters office of Ryder System in northwest Miami-Dade County could be demolished and replaced by warehouses.

The logistics giant filed a pre-application with county officials for a new site plan covering its 16.8-acre property at 11690 N.W. 105th St., which currently has its 248,989-square-foot headquarters office. Chicago-based Bridge Industrial has the property under contract, according to the application.

In February, Ryder announced it would place its headquarters campus for sale. Since the Covid-19 pandemic caused many office spaces to close in March 2020, many of Ryder’s corporate headquarters employees have been working remotely or on hybrid schedules and the company expects this to continue, Ryder spokeswoman Amy Federman said.

“Like many companies post-pandemic, Ryder has determined that we need much less office space than we currently have at our headquarters building,” Federman said. “We are pleased with the current location of our headquarters office, but with the vacant space in the building and the very attractive rates for a buyer to move in or redevelop the site, we are looking to downsize our headquarters space. Ryder is looking for a smaller office in Miami”

It hasn’t determined how much space it will need. The current headquarters of Ryder was built in 2005.

Bridge Industrial filed plans to redevelop the site with 330,000 square feet of warehouses, with 340 parking spaces and 75 loading docks. Bridge Point Miami Station would have warehouse buildings of 184,000 and 146,000 square feet.

The site is ideal for industrial development, as it’s located in the Beacon Station business park just off Florida’s Turnpike. Industrial rental rates in Miami-Dade have soared to record levels this year.

Bridge Industrial declined to comment. Miami-based attorneys Joseph G. Goldstein and Vanessa Madrid represent the developer. Miami Lakes-based Ware Malcomb is the architect of the project.

Meanwhile, Bloomberg reported Sept. 27 that Apollo Global Management is exploring a takeover of Ryder. No deal has been announced.

 

Source: SFBJ