{"id":1004700241,"date":"2024-01-31T03:47:50","date_gmt":"2024-01-31T11:47:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004700241"},"modified":"2025-02-24T01:58:46","modified_gmt":"2025-02-24T09:58:46","slug":"prologis-inks-308-ksf-renewal-at-miami-industrial-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/prologis-inks-308-ksf-renewal-at-miami-industrial-campus\/","title":{"rendered":"Prologis Inks 308 KSF Renewal at Miami Industrial Campus"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a115c8dc3a5f&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004700242\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/prologis-inks-308-ksf-renewal-at-miami-industrial-campus\/prologis-palmetto-tradeport\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/prologis-palmetto-tradeport-e1706632455676.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" 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;\\u00a9 Yardi Systems, Inc.&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;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"prologis palmetto tradeport\" data-image-description=\"&lt;p&gt;Prologis Palmetto Tradeport&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Prologis Palmetto Tradeport. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/prologis-palmetto-tradeport-e1706632455676.jpg?w=1000\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"225\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/prologis-palmetto-tradeport-e1706632455676.jpg?w=300\" alt=\"Prologis Palmetto Tradeport\" class=\"wp-image-1004700242\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/prologis-palmetto-tradeport-e1706632455676.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/prologis-palmetto-tradeport-e1706632455676.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/prologis-palmetto-tradeport-e1706632455676.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Prologis acquired the Palmetto Tradeport campus in 2010 for $66.8 million. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Prologis <\/strong>has signed two long-term renewals totaling 308,000 square feet at its 880,000-square-foot industrial park in Medley, Fla., Miami metro. The tenants are <strong>Seaboard Marine,<\/strong> <strong>Ltd<\/strong>. and <strong>Seaboard Solutions<\/strong>, <strong>Inc<\/strong>., both wholly owned subsidiaries of <strong>Seaboard Corp<\/strong>. <\/p>\n\n\n\n<p><strong>Colliers<\/strong> Vice Chairman Jonathan Kingsley represented the tenant. <strong>JLL<\/strong> Executive Managing Director Brian Smith negotiated on behalf of the landlord.<\/p>\n\n\n\n<p>Other tenants at the industrial campus include Zaimella USA, Cal-Maine Foods, Inc., SPEC Building Materials, Diamond Automotive Group Florida and Rodatech Automotive, among others, CommercialEdge shows.<\/p>\n\n\n\n<p>Seaboard Marine provides cargo shipping services in more than 26 countries, with its U.S. operations including terminals at Port of Houston and PortMiami, the latter being where the company serves as the largest cargo operator.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/for-2024-prologis-forecasts-growing-freight-traffic\/\" target=\"_blank\" rel=\"noreferrer noopener\">For 2024, Prologis Forecasts Growing Freight Traffic<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Prologis Palmetto Tradeport comprises four buildings at 7800-7890 N.W. 80th St. and 8001 N.W. 79th Ave. The Class A facilities include office suites ranging from 4,525 to 5,200 square feet, 24-foot clear heights, 175-foot building depth, dock-high doors, drive-in doors, ample column spacing and a total of 667 vehicle parking spots. Prologis bought the asset in 2010, in a $66.8 million portfolio deal from seller TA Realty, according to CommercialEdge.<\/p>\n\n\n\n<p>Prologis Palmetto Tradeport allows easy access to State Route 27, Interstate 95, Florida\u2019s Turnpike and Palmetto Expressway, while being 11 miles from Miami International Airport, 16 miles from PortMiami, 29 miles from Fort Lauderdale International Airport and within 31 miles of Fort Lauderdale, Fla. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-miami-s-solid-rent-growth\">Miami&#8217;s solid rent growth<\/h2>\n\n\n\n<p>According to a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/transformative-shifts-a-recap-of-2023-in-the-dynamic-industrial-sector\/\">CommercialEdge report<\/a>, Miami remained the priciest industrial market in the Southern U.S., with in-place rents at $10.69 per square foot as of December. Year-over-year rent growth in the metro stood at 9.8 percent\u2014240 basis points above the national rate. Vacancy was at a healthy 4.4 percent, below the U.S.&#8217; 4.6 percent.<\/p>\n\n\n\n<p>Industrial real estate will likely remain a <a href=\"https:\/\/www.commercialsearch.com\/news\/whats-next-for-industrial-real-estate\/\">top-performing asset class<\/a> this year, despite an anticipated slowdown. Construction starts will likely drop as capital costs remain high, while tenant demand will lead to more build-to-suits projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tenants are wholly owned subsidiaries of Seaboard Corp.<\/p>\n","protected":false},"author":2991,"featured_media":1004700242,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21748,1492,21742,32781],"tags":[35498,32796,32956],"class_list":["post-1004700241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-industrial","category-miami","category-latest","category-southeast","tag-colliers","tag-jll","tag-prologis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Prologis Inks 308 KSF Renewal at Miami Industrial Campus - 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