Blue Water Shipping Leases 69,500 SF in Miami Industrial Logistics Center Raising Occupancy to 93%

Latest lease leaves three-building, 676,835 SF logistics hub with only two 21,000 SF vacancies.

(Weston, FL – February 14, 2019) The South Florida office of Duke Realty (NYSE: DRE), the leading domestic-focused logistics property REIT (Real Estate Investment Trust) in the country, announces that Miami Industrial Logistics Center, its three-building, 676,835-square-foot industrial hub, is 93 percent leased just 18 months after it acquired the newly constructed, completely vacant industrial development. Blue Water Shipping is the latest tenant to choose Miami Industrial Logistics Center (MILC), which is located in the Hialeah Gardens submarket of Miami on the east side of Florida’s Turnpike at U.S. 27. The logistics and transport services provider will occupy 69,504 square feet in MILC 14802 leaving only two 21,000-square-foot spaces unoccupied.

“We are pleased to welcome Blue Water Shipping to Miami Industrial Logistics Center,” said Stephanie Rodriguez, Duke Realty’s Vice President of Leasing and Development in South Florida. “In choosing MILC, Blue Water Shipping will be operating in one of the newest and most functional distribution facilities in South Florida plus have superior access to the Turnpike and I-75.”

“Our business is focused on serving the cruise and marine industry so immediate access to the ports is very important to us,” said Lasse Petersen, General Manager with Blue Water. “By having our operations in Miami Industrial Logistics Center we can be on Florida’s Turnpike and I-75 in minutes and benefit from being in modern, first-class space that contributes to the efficiency of our operations.”

Duke Realty acquired Miami Industrial Logistics Center in May 2017. All three buildings in the portfolio are modern, state-of-the-art facilities with 32′ clear heights, 60′ speed bays, large truck courts and ample automobile parking.

Patrick Willis and Jeff Hartsook with Cresa represented Blue Water in its lease, while Duke Realty was represented by Stephanie Rodriguez and Frank Trelles and Brian Cabielles from State Street Realty.

Parties interest in leasing the remaining space in Miami Industrial Logistics Center or any of Duke Realty’s other Southern Florida properties are invited to contact Ms. Rodriguez at 954.453.5671.

About Duke Realty

The South Florida office of Duke Realty owns and operates 7.5 million square feet of industrial properties. Duke Realty’s South Florida office is located at 2400 North Commerce Parkway, Suite 405, Weston, FL 33326. The office phone number is 954.453.5660.

On a nationwide basis, Duke Realty Corporation owns and operates approximately 153 million square feet of assets in 20 key U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.