MIAMI – Transwestern’s South Florida industrial team today announces it facilitated a long-term, 93,000-square-foot lease with Colour Republic at Westpointe Business Park, a 285,000-square-foot, Class A business park at 8901 NW 33rd St. in Doral, Florida. Transwestern’s Senior Vice President Thomas Kresse, Senior Managing Directors Ben Eisenberg and Walter Byrd, and Senior Associate Carlos Gaviria represented New York-based investment manager Clarion Partners in the transaction. Clarion is acting on behalf of a commingled fund managed by the firm.
“Colour Republic chose Westpointe Business Park due to its central location in Doral, the functionality and efficiencies of a freestanding building and the existing improvements in the warehouse that suits its business needs,” said Kresse.
Recent research by Transwestern states the Miami Airport submarket consists of 68.2 million square feet of industrial space with 4.2 percent direct vacancy at the close of third quarter 2016. Quarterly demand was strongest in the Airport and Medley submarkets, continuing to tighten the Airport submarket and further limiting the availability of high-quality large blocks of space.
Colour Republic, a flower distributor, was represented by Carlos Velasquez and Tommy Gil of Vivo Real Estate Group Inc.
ABOUT CLARION PARTNERS, LLC
Clarion Partners, an SEC registered investment adviser, FCA authorized manager and FINRA member firm, has been a leading U.S. real estate investment manager for more than 34 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, DC. With $43.1 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
Transwestern is a privately held real estate firm of collaborative entrepreneurs whodeliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern.