Transwestern Renews Five-Year Lease For Multinational Distribution Company In Miami

Transwestern Real Estate Services (TRS) has secured a five-year lease renewal for a multinational distribution company at 7120 NW 74th Avenue in Miami. The property, located in the industrial market, features a size of 44,101 square feet. The lease was negotiated by Transwestern's South Florida Industrial team, taking into account the tightening market conditions and the property's favorable size, quality, and strategic location. The asking rent for the lease is $10 per square foot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not applicable (lease renewal)
• Address: 7120 NW 74th Avenue, Miami
• Market: Miami
• Tenant's Representative: Skylar Stein - Cushman & Wakefield
• Landlord: Terreno Realty Corporation
• Landlord's Representatives: Carlos Gaviria, Thomas Kresse, Walter Byrd & Ben Eisenberg - Transwestern Real Estate Services
• Asking Rent: $10/ft.

This lease renewal deal was successfully closed by Transwestern Real Estate Services' South Florida Industrial team. They considered the tightening market conditions and the property's favorable characteristics, including its size, quality, and strategic location, in order to ensure a beneficial agreement for the multinational distribution company.