A joint venture between Lincoln Property Company and a real estate fund advised by Crow Holdings Capital Partners has broken ground on Turnpike Park, a Class A, 136,500-square-foot industrial building in Miami’s Medley submarket.
Completion of the front-load, shallow-bay facility is slated for second-quarter 2015. Americas Industrial Realty Corp. will lease the building, which is located along the Florida Turnpike, just south of the Okeechobee Road exit.
“With today’s tenants seeking warehouse space that will allow them to operate more efficiently, we are extremely confident in the future of Turnpike Park,” said Roy Paskow, senior vice president of Lincoln who oversees the firm’s Miami office. “With its many features that will promote efficiency for its tenants, and its prime location with over 350 feet of frontage along the Florida Turnpike, this is a development that is poised to lease quickly.”
Turnpike Park will feature a 32-foot clear ceiling height; 120-feet, all-concrete truck courts; and 52-foot by 45-foot column spacing with a 50-foot staging area. The facility, which will be ideal for warehousing, distribution or light manufacturing use, will also include heavy three-phase electrical power, T5 energy-efficient lighting, an ESFR fire sprinkler system, drive-in ramps and four dock doors per bay.
Turnpike Park is strategically located within the Pan American North Business Park in Medley and, with over 350 feet of frontage along the Florida Turnpike, offers excellent visibility. Turnpike Park also benefits from its proximity to all major roadways, including the Florida Turnpike, Palmetto Expressway, Okeechobee Road (US 27), Interstate 75 and the Dolphin Expressway. Furthermore, the building offers convenient access to MIA Cargo, Miami International Airport, Port Miami and the entire Tri-County area.