May 29, 2018
MIAMI – Transwestern’s South Florida industrial team today announces it secured a new, long-term lease for 50,000 square feet at Miami International Commerce Center (MICC), a 3.5 million-square-foot industrial park at 7850 NW 25th St. in Doral, Florida. The lease represents the relocation of the tenant, AAR Aircraft Services, a leading independent provider of aviation services to commercial and government customers in more than 100 countries.
Transwestern Managing Director Thomas Kresse, Senior Managing Directors Walter Byrd and Ben Eisenberg, and Vice President Carlos Gaviria negotiated the transaction at MICC on behalf of the landlord, PS Business Parks.
“MICC’s location, less than 2 miles from Miami International Airport, played a major factor in AAR’s decision to relocate,” said Kresse. “In addition, we were able to accommodate the tenant’s space requirement and offer a generous parking ratio.”
Miami-Dade County remains one of the nation’s tightest industrial markets, with the Airport West/Doral submarket at 4.1 percent vacancy as of first quarter 2018, according to research by Transwestern. The submarket saw the quarter’s strongest demand, posting 245,269 square feet of positive absorption.
Newmark Knight Frank’s Steve Medwin and Nick Wigoda represented the tenant.
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Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service - the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 211 offices in 36 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern.
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