Newmark Miami Industrial Team Represents AAR Aircraft Services In New 50,000 SF Lease
May 24, 2018
MIAMI- Transwestern’s South Florida industrial team has secured a new, long-term lease for 50,000 square feet at Miami International Commerce Center (MICC), a 3.5 million-square-foot industrial park at 7850 NW 25th St. in Doral.
The lease represents the relocation for the tenant, AAR Aircraft Services, a leading independent provider of aviation services to commercial and government customers in more than 100 countries.
Transwestern Managing Director Thomas Kresse, Senior Managing Directors Walter Byrd and Ben Eisenberg, and Vice President Carlos Gaviria negotiated the transaction at MICC on behalf of the landlord, PS Business Parks.
“MICC’s location, less than 2 miles from Miami International Airport, played a major factor in AAR’s decision to relocate,” said Kresse. “In addition, we were able to accommodate the tenant’s space requirement and offer a generous parking ratio.”
Miami-Dade County remains one of the nation’s tightest industrial markets, with the Airport West/Doral submarket at 4.1 percent vacancy as of first quarter 2018, according to research by Transwestern. The submarket saw the quarter’s strongest demand, posting 245,269 square feet of positive absorption.
Newmark’s Steve Medwin and Nick Wigoda represented the tenant.