MAERSK Leases Industrial Property In Miami From David M. Hergan - Praetorian

The industrial property located at 3025 Northwest 123rd Street in Miami has been leased to MAERSK, one of the largest shipping companies globally. The property spans 304,920 square feet and has an asking rent of $5 per square foot. The transaction was facilitated by brokers Larry Genet and Eli Havlik from CBRE.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not specified
• Landlord: David M. Hergan - Praetorian
• Tenant: MAERSK
• Brokers: Larry Genet & Eli Havlik - CBRE
• Market: Miami
• Asset Type: Industrial
• Address: 3025 Northwest 123rd Street
• Asking Rent: $5/ft. ~ SF: 304,920

The deal marks the largest IOS lease of 2024 thus far. MAERSK will utilize the fully paved property in Miami, close to MIA and Doral, for truck fleet parking. The prime location and size of the property make it an ideal fit for MAERSK's operations, underlining the strategic importance of the transaction.