{"id":1004092824,"date":"2014-03-18T10:15:53","date_gmt":"2014-03-18T18:15:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004092824"},"modified":"2022-12-08T05:46:42","modified_gmt":"2022-12-08T13:46:42","slug":"chilean-developer-builds-first-u-s-project-185-ksf-m-u-facility-in-miami","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/chilean-developer-builds-first-u-s-project-185-ksf-m-u-facility-in-miami\/","title":{"rendered":"Chilean Developer Builds First U.S. Project: 185 KSF M-U Facility in Miami"},"content":{"rendered":"<p><em>By Anna Spiewak, News Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Megacenter-Palmetto.png\"><img decoding=\"async\" data-attachment-id=\"1004092849\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/chilean-developer-builds-first-u-s-project-185-ksf-m-u-facility-in-miami\/megacenter-palmetto\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Megacenter-Palmetto.png\" data-orig-size=\"457,285\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Megacenter Palmetto\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Megacenter-Palmetto.png?w=457\" loading=\"lazy\" class=\"alignleft size-medium wp-image-1004092849\" alt=\"Megacenter Palmetto\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Megacenter-Palmetto.png\" width=\"300\" height=\"187\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Megacenter-Palmetto.png 457w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Megacenter-Palmetto.png?resize=300,187 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Chilean company Red Megacentro is tapping into the U.S. market with its very first American redevelopment project, a 185,000-square-foot mixed-use facility in Miami.<\/p>\n<p>The project, Megacenter Palmetto is made up of warehouse\/flex spaces starting at 4,000 square feet, self-storage units and full-service executive office suits. The property is located in the southeast corner of the intersection of Palmetto Expressway and Okeechobee Road, nearby the Miami International Airport, Dolphin Expressway and Florida&#8217;s Turnpike.<\/p>\n<p>Pablo Wichmann, CEO at Megacenter Business Parks,\u00a0the subsidiary company responsible for the redevelopment of the Megacenter Palmetto project,\u00a0told <em>Commercial Property Executive<\/em> &#8220;geographic diversification and opportunities for value creation&#8221; were the reasons for the Chilean company&#8217;s decision to venture into the U.S. market.<\/p>\n<p>The property,\u00a0formerly occupied by Regal Kitchens, was purchased by Megacenter in January 2013, according to the company&#8217;s spokesperson.\u00a0Megacenter Palmetto has been entirely renovated inside and out, to help enhance its exposure to tenants. The building is already 70 percent leased to companies such as:\u00a0K1 Speed, Dax International and Dr. Battery, according to Wichmann. More occupancy by prospective tenants is expected to occur upon completion of the renovation.<\/p>\n<p>The developer is seeking &#8220;small bay users and start-up companies&#8221; as potential tenants.<\/p>\n<p>&#8220;We can accommodate any small to medium size (business) with a mix of office, self storage units and out small bay warehouse,&#8221; Wichmann\u00a0added. &#8220;We offer flexibility for small tenants, with full services (unloading areas, temporary expansion possibilities, etc.&#8221;<\/p>\n<p>Red Megacentro has more than 7.5 million square feet currently in operation throughout Chile, Peru and now Miami. The Latin American company&#8217;s expansion plan considers opening two to four projects per year over the next five years. Megacentro mainly focuses on redevelopments rather than building from scratch, Wichmann\u00a0concluded.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chilean company Red Megacentro is tapping into the U.S. market with its very first American redevelopment project, a 185,000-square-foot mixed-use facility in Miami.<\/p>\n","protected":false},"author":952,"featured_media":1004092849,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,1492,21742,21747],"tags":[],"class_list":["post-1004092824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-miami","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chilean Developer Builds First U.S. Project: 185 KSF M-U Facility in Miami - 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