Transwestern represents tenant in five-year industrial lease renewal
Transwestern Real Estate Services (TRS) announces its South Florida industrial team negotiated a five-year, 38,900-square-foot lease renewal for TMC Engine Center at 8545 NW 79th Ave. in Medley, Florida. Transwestern’s Carlos Gaviria, Walter Byrd, Ben Eisenberg and Thomas Kresse represented the tenant in the transaction.
“When we facilitated TMC Engine Center’s relocation and expansion to the building in 2017, the goal was to find a site that could enhance the company’s operations and support long-term growth,” said Gaviria, Vice President at Transwestern. “The location’s size and functionality combined with its proximity to Miami International Airport made renewing the lease the smartest business decision.”
Miami-Dade County’s industrial market has been sustained by high job growth in the trade, transportation and utility sectors, generating heavy investor interest, rising rents and low vacancy. The Medley submarket recorded robust leasing velocity throughout 2021, resulting in strong occupancy growth.
TMC Engine Center is a family-owned and operated aircraft service and maintenance company, providing full-service aircraft engine overhaul and repair station services.
Vivo Group represented the landlord in the lease renewal.