South Florida Logistics Center Ahead of Schedule; demand strong

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Flagler completes Building One at South Florida Logistics Center (SFLC) and is already 70% leased.  According to Chris Sutton, Flagler VP Business Development, the building was delivered ahead of schedule with a logistics provider leasing the first 122,000 square feet.  On the remaining 49,000 square feet there are several proposals.  “This bodes well for the next buildings” said Sutton.

SFLC is adjacent to Miami International Airport with exclusive rail access to PortMiami, Port Everglades, and beyond.  The property consists of 130 developable acres located just west of Miami International Airport.  With over 2M SF of buildings slated for the property, there is still work to be done.  Sutton is optimistic.  “This multi-modal project is situated in a prime location within Miami-Dade and will attract companies seeking a total real estate solution.”, explained Sutton.  “Our world-class development team will create buildings with all of the desired features in today’s market and re-define “Class-A” in South Florida.”

The Airport West market has seen a strong recovery over the past year and is now at 92.7% occupancy with an average asking rate of $9.12 PSF.

Indusrial, Market Trends, Uncategorized

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