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Developer breaks ground on 537,208-square-foot logistics park

Butters Construction & Development and its capital partners broke ground on the second phase of Airport North Logistics Park in Medley.

The two buildings at Northwest 80th Street and Northwest 87th Avenue will total 537,208 square feet with ceiling height up to 34 feet. Leasing will be handled by Wayne Ramoski and Gian Rodriguez of Cushman & Wakefield.

The asking lease rate is $9.25 per square foot, according to the leasing brochure. Industrial lease rates have jumped in Miami-Dade County as vacant space and new buildings have been rapidly filling up. Medley and northwest Miami-Dade is one of the few parts of South Florida with large swaths of available land for industrial development.

Coconut Creek-based Butters expects to finish the buildings in summer 2017. The 255,900-square-foot first phase of Airport North Logistics Park is fully leased, said Adam Vaisman, director of acquisitions at Butters. Tenants includedNeutralogics and Eco Window Systems.

A fourth building of over 100,000 square feet could also be permitted on the site.

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