Newmark Knight Frank (NKF) announced today that global logistics provider Rhenus Group has completed its move to a new warehouse totaling 152,000 square feet at the South Florida Logistics Center in Miami. Freight Logistics, a wholly owned subsidiary of Rhenus Group, is now running its operations at the Class A facility. The long-term lease transaction, valued in excess of $20 million, marks Rhenus Group’s official U.S. debut after its recent acquisition of Freight Logistics.
Located at 3200 NW 67th Avenue, the new facility is adjacent to Miami International Airport, which provides Rhenus Group with immediate access to the airport’s cargo facilities. The warehouse, known as Building 9, is the latest to be developed in the 200-acre South Florida Logistics Center. The master-planned business park is owned by Flagler Global Logistics, a division of Florida East Coast Industries and J.P. Morgan Chase.
Newmark Knight Frank Executive Managing Directors Nick Wigoda and Steve Medwin represented the tenant in the transaction. The owners were represented in-house by Chris Sutton and Andrew Lehrer.
“This location serves as Rhenus Group's branch location servicing South Florida, as well as the company’s HQ of the Americas. This expansion is significant for Miami given its reputation as the gateway to Latin America, where Freight Logistics has been a leader in high tech fulfillment and e-commerce”, said Wigoda.
“It was critical that Rhenus Group’s first U.S. location was prominently located adjacent to the number one ranked airport for international freight in the United States,” said Medwin.
“Leasing this state-of-the-art building will enable us to serve both North America and the Latin American region from Miami as our new gateway. This will help us live up to our goal of being globally oriented, so we can establish more links between the continents,” said Gabriel de Godoy, CEO of US Operations for Rhenus Group.
Rhenus Group has more than 610 locations worldwide, annual revenues in excess of €5 billion, and employs approximately 29,000 people. Rhenus Group’s primary business areas - contract logistics, freight logistics and port logistics - manage complex supply chains by means of innovative value-added services.
According to NKF Research, industrial construction activity in South Florida turned in a record-breaking year with more than 5.9 million square feet of new product coming online. The final tally represents the most inventory ever delivered throughout the region during a full calendar year. Leasing activity increased slightly from the third quarter, as 423 transactions totaling almost 3.4 million square feet were executed. More than 18.7 million square feet of industrial transactions were recorded in South Florida in 2019.
About Newmark Knight Frank
Newmark Knight Frank, operated by Newmark Group, Inc. (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.