First Park Miami
Butters Construction & Development and First Industrial Realty Trust
Project address: Northwest 87th Avenue and Northwest 90th Street, Medley 33166
Key Partner
Architect: RLC Architects
When the team behind what would become First Park Miami acquired the 125-acre parcel, it was the first step in creating one of the largest industrial parks in South Florida. The team consists of Chicago-based owner First Industrial Realty Trust, which bought the 63.6-acre property for $42.6 million in January 2020, and developer and contractor Butters Construction & Development. Phase one, currently under construction, will total approximately 800,000 square feet. Total buildout will be 13 buildings and 2.5 million square feet.
With its size, central Miami-Dade County location, and extensive dock-high loading, CEO Malcolm Butters estimates a market value upon completion of $400 million, making the property “a landmark in the Miami industrial market.” The team had to overcome some complex environmental challenges and drainage issues, as most of the land is composed of a lake in need of backfilling. Moving ahead unhindered, the team has already signed its first tenant, warehouse distribution company Carbel, which took 368,287 square feet.
