Thirty years ago, Armando Codina launched his first industrial real estate project in Miami.
Now, his daughter, Ana-Marie Codina Barlick, is leading the family-owned firm back into the warehouse industry with one of South Florida’s largest projects.
Royal Luxury Doors, Inc. will occupy a 7,940 square feet at Beacon Centre, located at 8412 Northwest 17th Street in Miami.
Transwestern’s South Florida industrial team closed a long-term lease renewal for approximately 100,000 square feet with global logistics provider DHL at Beacon Centre, a Class A business park located at NW 25th St. and NW 84th Ave. in Doral.
Transwestern’s Senior Vice President Thomas Kresse, Senior Managing Director Ben Eisenberg, and Senior Associate Carlos Gaviria facilitated the transaction on behalf of the landlord, RREEF, which owns a four-building, 425,000-square-foot portfolio within Beacon Centre.
This renewal maintains 100 percent occupancy at the 180,000-square-foot building at 8400 NW 25th St.
“Beacon Centre is centrally located in Doral, just 2 miles from the cargo facilities at Miami International Airport,” said Kresse. “This desirable location, the park’s environment and solid institutional ownership were major factors in maintaining our long-standing relationship with DHL.”
Miami remains one of the nation’s tightest industrial markets in terms of vacancy with the Miami Airport submarket – which includes Doral – at 3.6 percent vacancy as of third quarter 2017, according to research by Transwestern. The Miami Airport and Medley submarkets alone accounted for more than two-thirds of Miami-Dade County’s industrial demand this year.
Transwestern’s Senior Managing Director Walter Byrd represented the tenant.