Industry News
Nov 20, 2008
By: Elena Gontar, Staff Writer
Flagler Development Group has signed paper products firm Lagasse Sweet to a 240,000-square-foot lease in a build-to-suit facility at Flagler Station, South Florida’s largest business park.
The 10-year lease ranks as the largest in the Miami Dade Airport West submarket this year and brings the firm’s total annual lease transactions for the center to nearly 1 million square feet.
A new 328,000-square-foot office/industrial building is currently being constructed in Flagler Station to accommodate the new tenant. The property also offers Class A office, retail and industrial facilities, as well as rail-served buildings, flex space, front-load warehouse space and cross-dock facilities.
Jones Lange LaSalle represented the tenant in its search for a site that would also provide the ability for the company to expand an additional 210,000 square feet.
“Flagler Station continues to outperform despite the tight economy and increased competition in Miami-Dade’s fast-growing Airport West market,” Flagler president & CEO Jose Hevia noted in a release.
Some of the other 2008 transactions at Flagler Station are:
• FedEx Ground Package System Inc. increased the amount of square feet the company leases by 50,400 square feet of industrial space, bringing its total square footage to 160,000 square feet.
• Makita Latin America, an international manufacturer of professional power tools, extended and expanded its lease from 24,900 square feet to 56,200 square feet of industrial space. The company has been located at Flagler Station since 2003.
• Kuehne & Nagel renewed its lease of 123,000 square feet of industrial/office space. The company has been a tenant in the park since 2000.
• Entenmann’s Sales renewed its 25,000-square-foot lease of industrial/office space. The company has been Flagler Station's tenant since 2003.
By: Elena Gontar, Staff Writer
Flagler Development Group has signed paper products firm Lagasse Sweet to a 240,000-square-foot lease in a build-to-suit facility at Flagler Station, South Florida’s largest business park.
The 10-year lease ranks as the largest in the Miami Dade Airport West submarket this year and brings the firm’s total annual lease transactions for the center to nearly 1 million square feet.
A new 328,000-square-foot office/industrial building is currently being constructed in Flagler Station to accommodate the new tenant. The property also offers Class A office, retail and industrial facilities, as well as rail-served buildings, flex space, front-load warehouse space and cross-dock facilities.
Jones Lange LaSalle represented the tenant in its search for a site that would also provide the ability for the company to expand an additional 210,000 square feet.
“Flagler Station continues to outperform despite the tight economy and increased competition in Miami-Dade’s fast-growing Airport West market,” Flagler president & CEO Jose Hevia noted in a release.
Some of the other 2008 transactions at Flagler Station are:
• FedEx Ground Package System Inc. increased the amount of square feet the company leases by 50,400 square feet of industrial space, bringing its total square footage to 160,000 square feet.
• Makita Latin America, an international manufacturer of professional power tools, extended and expanded its lease from 24,900 square feet to 56,200 square feet of industrial space. The company has been located at Flagler Station since 2003.
• Kuehne & Nagel renewed its lease of 123,000 square feet of industrial/office space. The company has been a tenant in the park since 2000.
• Entenmann’s Sales renewed its 25,000-square-foot lease of industrial/office space. The company has been Flagler Station's tenant since 2003.
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