Lincoln-Led Joint Venture Completes Turnpike Park Industrial Building, Secures First Two Tenants
A joint venture between Lincoln Property Company and a real estate fund advised by Crow Holdings Capital Partners has completed Turnpike Park, a 136,500-square-foot industrial building located in Miami. The first two tenants recently signed leases at the property.
SV Orchids & Potted Supply, Inc., a subsidiary of Silver Vase, Inc., a leading grower of orchids and bromeliads signed a 39,000-square-foot lease. Southpoint Sportswear, LLC, a vertical manufacturer of sportswear, outerwear and sleepwear lines that are custom designed for retailers and manufacturers nationwide, signed a 24,440-square-foot lease. Americas Industrial Realty Corp. represented the landlord in the transactions.
“Turnpike Park offers all of the amenities industrial tenants are seeking, including 32-foot clear heights, all-concrete truck courts and drive-in ramps, all in a prime location within the Pan American North Business Park,” said Roy Paskow, senior vice president of Lincoln who oversees the firm’s Miami office. “We anticipate the remaining space will be leased quickly as demand for Class A buildings continues to climb.”
Turnpike Park features 52-foot by 45-foot column spacing with a 50-foot staging area, heavy three-phase electrical power, T5 energy-efficient lighting, an ESFR fire sprinkler system, and four dock doors per bay. The property also offers proximity to all major roadways, including the Florida Turnpike, Palmetto Expressway, Okeechobee Road (US 27), Interstate 75 and the Dolphin Expressway, as well as convenient access to MIA Cargo, Miami International Airport, Port Miami and the entire Tri-County area.