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Reich Bros Leases Industrial Cold Storage Space To Rich Nichols For 5 Years In Miami

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LEASED
$18

Florida

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Industrial24,679 SF
Leased 02/17/2026
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Property Image
LEASED

Reich Bros Leases Industrial Cold Storage Space To Rich Nichols For 5 Years In Miami

501 Miami Gardens Drive

See Similar Deals
Industrial24,679 SF
Leased 02/17/2026
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$18
Total Square Footage:24,679 SF
Transaction Type:Lease

This transaction involved an industrial asset located at 501 Miami Gardens Drive in Miami. The property encompasses a total square footage of 24,679 and is leased at an asking rent of $18 per square foot. The lease term is set for 5 years under a NNN lease type.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $18/ft
  • Lease Term: 5 years
  • Lease Type: NNN Lease
  • Landlord: Reich Bros
  • Tenant: Rich Nichols
  • Landlord's Representative: George Smith - Smith Commercial Property Group
  • Tenant's Representative: George Pino - State Street Realty

George Smith, in collaboration with George Pino, successfully facilitated the lease of a cold storage processing space in North Dade. The class C industrial mid-size market remains active despite a period of decompressing rates in South Florida from 2024-2025, reflecting high demand for cold storage solutions.

Players

George Smith
Smith Commercial Property Group
George Smith
18 deals$159.2M volume(305) 359-6119
BROKER

Details

LEASED
IMAGE: George Smith & George Pino DATE: 02/17/2026 ADDRESS: 501 Miami Gardens Drive MARKET: Miami ASSET TYPE: Industrial LANDLORD: Reich Bros TENANT: Rich Nichols LANDLORD'S REP: George Smith (@G_Smith_cre) - Smith Commercial Property Group @smith_cre TENANT'S REP: George Pino - State Street Realty (@StateStreetRealty) ASKING RENT: $18/ft ~ SF: 24,679 LEASE TERM: 5 years LEASE TYPE: NNN Lease NOTE FROM LANDLORD'S REP: George Smith in collaboration with George Pino were able to successfully lease a rare cold storage processing space in North Dade. A time where south FL experienced decompressing rates from 2024-2025, the class C industrial mid size market remains active in cold storage. Demand remains high. For any of your cold storage lease, acquisitions or investment needs, reach out to George Smith at [email protected] or 305-359-6119.

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Deal Type
Effective Rent (Annual)

$509,250.74

Total Lease Value

$5,092,507.40

Net Landlord Cash Flow$509,250.74