Transwestern Real Estate Services has negotiated the 10-year lease of a 6.72-acre industrial property with a 55,000-square-foot warehouse at 8050 NW 90th St. in Medley, Florida, for a North American provider of equipment rentals. Transwestern’s South Florida industrial team of Carlos Gaviria, Ben Eisenberg,Walter Byrd,and Thomas Kresse represented the owner,Terreno Realty Corporation (NYSE: TRNO), in the transaction.
“This was the onlyproperty available in South Floridaof this size and amount of additional land in one contiguous site,”said Gaviria, a Vice President at Transwestern. “Subdividing the property offered several potential leasing scenarios. However, the tenant realized the utility and advantages of occupying the full site, creating a win-win for the tenant and owner.”
Earlier this year, Transwestern represented Terreno in purchasing the asset for $20 million, or $2.97 million per acre.
Patrick Conness of Conness Crissy Real Estate Advisors represented thetenant in the lease transaction.
Transwestern’s South Florida Industrial team provides creative solutions that maximize real estate value through a sophisticated and proven methodology that helps meet and exceed financial objectives. With nearly 100 years of combined experience, the team uses deep market knowledge and industry expertise to uncover hidden opportunities and capitalize on shifting market dynamics.
