The property asset involved in this transaction is a 140,799-square-foot industrial facility located at 11150 Northwest 122nd Street in Medley. This location is significant as it represents one of the largest industrial leases in Miami-Dade this year. The facility, built by Prologis in 2023, spans across 3 acres and is part of a strategic move by USPS as Miami's industrial vacancy rate reaches 7.3%.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: Not specified
• Address: 11150 Northwest 122nd Street
• Market: Medley
• Square Footage: 140,799
• Landlord: Hamid Moghadam - Prologis
• Tenant: David Steiner - United States Postal Service (USPS)

The deal was marked by USPS's signing of a lease for the entire warehouse, aligning with their ongoing cost-cutting initiatives. Hamid Moghadam represented Prologis in this transaction, while David Steiner represented the United States Postal Service.