Transwestern Represents Tenant in 5-Year Industrial Lease Renewal
July 15, 2021
Miami – Transwestern Real Estate Services (TRS) announces its South Florida industrial team secured a five-year, 32,001-square-foot lease renewal for Goodwill South Florida at 9302 NW 101st St. in Medley, Florida. Transwestern’s Thomas Kresse, Walter Byrd, Ben Eisenberg and Carlos Gaviria represented the tenant in the transaction.
“In 2019, Transwestern helped identify Goodwill’s Medley location amid challenging requirements in a tight market,” said Gaviria. “The property continues to fulfill Goodwill’s needs for trailer parking and accessibility.”
According to market research by Transwestern, the Medley industrial submarket enjoyed healthy demand during Q2 2021, absorbing more than 370,000 square feet, with direct vacancy of 3.7%. Miami’s industrial market has reported very strong demand in recent quarters – among its strongest quarters in recent years - with 1.7 million square feet of net absorption in Q2, following 1.5 million square feet in Q1 and 1.7 million in Q4 2020.
“As we emerge from the aftereffects of the pandemic, Miami’s industrial market will remain a bright spot in the economy throughout the year and for the foreseeable future,” said Keith Pierce, Transwestern Vice President of Research.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.