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Seaboard Stays Put at Prologis-Owned Industrial Base in South Florida

| Commercial Real Estate News, Deals, Featured, Industrial, Leasing| Views: 0

Seaboard Marine — a global, ocean-carrier shipping services provider — has renewed its lease for its industrial base in Medley, Fla., just outside of Miami. The two deals that are part of the agreement include the 208,400-square-foot 8001 NW 79th Ave. and the 88,584-square-foot 7800-7890 NW 80th St., which the company has been occupying since the 1990s.

Located near Miami International Airport and PortMiami, as well as next to the Medley Metrorail Station, the two buildings belong to the Prologis Palmetto Tradeport. The site boasts three acres of outside storage space and provides parking. Prologis gained ownership of the properties following its merger with AMB Property in 2011.

JLL’s Brian Smith brokered the deal on behalf of the landlord, while Collier’s Jonathan Kingsley represented the tenant. To date, the transaction is one of South Florida’s largest industrial lease agreements in 2024.

“We appreciate our long-term relationship with Prologis and their ability to provide the necessary improvements and upgrades to our Miami off-port warehousing facilities as part of our continued commitment to our Medley facilities,” said Seaboard Marine Executive Vice President, Bruce Brecheisen.

“We worked closely with Seaboard Marine and Prologis to strike a deal that would meet Seaboard’s near- and long-term expansion requirements and operational needs,” Kingsley added. “This transaction ensures Seaboard’s continued presence in Medley, while creating positive absorption of leasable space for Miami-Dade’s industrial market.”

According to Prologis Vice President, Peter Crovo, the deal doesn’t just ensure the presence of Seaboard in Medley for the foreseeable future, but also provides the company with better rail connectivity.

“This is a significant deal not only for the Medley market, but for Miami, as Seaboard’s cargo and freight activity represents a significant contribution to Miami’s thriving business community,” he said.

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