{"id":1004144616,"date":"2016-05-23T09:57:04","date_gmt":"2016-05-23T17:57:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004144616"},"modified":"2022-03-03T01:47:55","modified_gmt":"2022-03-03T09:47:55","slug":"ngkf-leases-1-6msf-industrial-business-park-in-miami-metro","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ngkf-leases-1-6msf-industrial-business-park-in-miami-metro\/","title":{"rendered":"NGKF Leases 1.6MSF Industrial Business Park in Miami Metro"},"content":{"rendered":"

By Robert Demeter<\/em><\/p>\n

\"Turnpike1<\/a>

Turnpike1 Business Park Development Plan<\/em><\/p><\/div>\n

Miami<\/strong>\u2013Newmark Grubb Knight Frank<\/a> have recently been hired to market and lease Turnpike1 Business Park<\/a>, a planned 1.6 million-square-foot project located in Southwest Miami-Dade, in Homestead, Fla. GBX Capital<\/a>, a U.S. division of a major Brazilian developer that broke ground on the 117-acre site last month, tapped NGKF\u2019s Executive Managing Directors Steven Medwin and Nick Wigoda to lead the ownership and leasing opportunities for the company.<\/p>\n

The multi-phase development will range from 5,000 square feet to more than\u00a0250,000 square-foot\u00a0projects, including office and warehouse space. Phase one of the business park will include a speculative industrial building with state-of-the-art amenities such as 24-foot ceilings, efficient column spacing, build\u2013to-suit offices that incorporate the latest design features for better operational functionality, truck courts, surplus trailer storage and expansion land.<\/p>\n

NGKF\u2019s South Florida industrial team has already secured two major tenants for the project, including Pepsico\/Frito-Lay and Bianco Fine Foods. Turnpike1 Business Park will serve as the distribution center for PepsiCo\/Frito-Lay in both South Miami-Dade and Monroe Counties. The vacant area of the building is still under lease negotiations with a global distribution company, which will bring Building A to 100 percent \u201cpre-leased\u201d status while still under construction. Plans and permitting are underway for Building B, which will be 43,000 square feet, due to the accelerated leasing activity of the business park.<\/p>\n

\"Construction<\/a>

Construction Progress<\/em><\/p><\/div>\n

\u201cThe industrial market in Homestead has been longing for quality industrial product to serve the fast growing region of South Miami-Dade and Monroe Counties,\u201d said Medwin. \u201cWe are seeing so much pent-up demand from large and small companies alike who are looking for Class A industrial space that\u2019s been absent from the market for many years. Turnpike1 Business Park is the answer.\u201d<\/p>\n

NGKF predicts large industrial demand in the area, with the market poised for strong pre-leasing levels pushing the occupancy rate up to pre-recession levels at 95.5 percent, not seen since 2006. Southwest Miami-Dade has the second lowest vacancy in the South Florida industrial market.<\/p>\n

\u201cTurnpike1 Business Park will offer corporations in Miami<\/a> an alternative to higher-priced industrial hubs with significant traffic congestion,\u201d added Wigoda. “The property\u2019s location will provide easy access to a rapidly growing population base, variety of amenities and major highways, and offer more competitive leasing rates and sale prices.\u201d<\/p>\n

\"Rendering<\/a>

Interior Rendering<\/em><\/p><\/div>\n

Turnpike1 Business Park is located between Miami and the Florida Keys, directly off the Florida Turnpike and US 1, with immediate access to major freight movement centers connecting South Florida with South America, Asia and Europe. The property is also situated near residential neighborhoods with excellent labor pool, as well as restaurants, shopping centers and the Homestead Miami Speedway.<\/p>\n

\u201cWe see the Miami industrial market<\/a> ripe for new industrial<\/a> and office space<\/a> development and our project will help offer new, high quality space at affordable prices in order to meet the demands of both local and international businesses,\u201d said Bret Bobo, COO of GBX in the US. \u201cThis the first phase of the master-planned business park we are developing in Homestead and we have assembled an experienced team to carry the project forward.\u201d<\/p>\n

The project was designed by RLC Architects<\/a> with Burke Construction<\/a> as the general contractor.<\/p>\n

Images courtesy of\u00a0Turnpike1\u00a0website.<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

NGKF has already secured major tenants for Turnpike1 Business Park, including Pepsico\/Frito-Lay.<\/p>\n","protected":false},"author":59,"featured_media":1004144626,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21748,1492,21742],"tags":[],"class_list":["post-1004144616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-industrial","category-miami","category-latest"],"acf":[],"yoast_head":"\nNGKF Leases 1.6MSF Industrial Business Park in Miami Metro - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ngkf-leases-1-6msf-industrial-business-park-in-miami-metro\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NGKF Leases 1.6MSF Industrial Business Park in Miami Metro\" \/>\n<meta property=\"og:description\" content=\"NGKF has already secured major tenants for Turnpike1 Business Park, including Pepsico\/Frito-Lay.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ngkf-leases-1-6msf-industrial-business-park-in-miami-metro\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-05-23T17:57:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-03T09:47:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/7969618.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"652\" \/>\n\t<meta property=\"og:image:height\" content=\"372\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Robert Demeter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ngkf-leases-1-6msf-industrial-business-park-in-miami-metro\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ngkf-leases-1-6msf-industrial-business-park-in-miami-metro\\\/\"},\"author\":{\"name\":\"Robert Demeter\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1b890baecdbd25af52e3a730ac8cff6f\"},\"headline\":\"NGKF Leases 1.6MSF Industrial Business Park in Miami Metro\",\"datePublished\":\"2016-05-23T17:57:04+00:00\",\"dateModified\":\"2022-03-03T09:47:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ngkf-leases-1-6msf-industrial-business-park-in-miami-metro\\\/\"},\"wordCount\":569,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ngkf-leases-1-6msf-industrial-business-park-in-miami-metro\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/05\\\/7969618.jpg\",\"articleSection\":[\"Brokerage\",\"Industrial\",\"Miami\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ngkf-leases-1-6msf-industrial-business-park-in-miami-metro\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ngkf-leases-1-6msf-industrial-business-park-in-miami-metro\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/ngkf-leases-1-6msf-industrial-business-park-in-miami-metro\\\/\",\"name\":\"NGKF Leases 1.6MSF Industrial Business Park in Miami Metro - 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