EastGroup Properties Inc. has officially broken ground on Gateway Commerce Park, becoming the most prominent Class A industrial project in Miami Gardens.
Spanning 61 acres, the park marks EastGroup’s entrance into the premier Miami-Dade market.
Gateway Commerce Park will offer tenants the flexibility to lease spaces ranging from 30,000 square feet to a full 200,000-square-foot building and brand visibility with direct frontage to the Florida Turnpike. The first state-of-the-art building is expected to be delivered by the end of this year. The park, which has development rights for up to five buildings, is ideally suited for prospective tenants including heavy volume logistics and supply chain firms, distributors and e-commerce companies.
Strategically located on the Florida Turnpike at the NW 27th Avenue exit, Gateway Commerce Park is unmatched in offering its customers direct access to all major highways, including Turnpike, Interstate 95, Interstate 75 and the Palmetto Expressway.
The site is centrally located between Miami-Dade and Broward counties, in close proximity to the major air and sea ports and the region’s highly dense urban cores. The commerce park will sit less than 12 miles from both Port Miami and Port Everglades, and within five miles of countless restaurants and entertainment venues including Hard Rock Stadium, specialized retailers and anchor department stores, and various educational institutions.
“The timing is right for a project of this magnitude given the strength of the region’s industrial real estate market and the demand for class A space with excellent roadway connectivity and access to dense populations,” said JLL’s Audley Bosch, whose team is spearheading leasing efforts. “The robust transit infrastructure surrounding the property and access to more than a million people within seven miles, plus the ability to serve South Florida from a central point, makes this an attractive offering for companies seeking quality industrial space in South Florida.”
Gateway Commerce Park will feature class A industrial space built with hurricane-impact glass, concrete tilt wall, Early Suppression Fast Response (ESFR) sprinklers, dock high-rear loading and will provide a parking ratio of 1.25 per 1,000 square feet. The buildings’ architectural design will feature unique aesthetic details and LED lighting.
Considered a leading industrial real estate developer and operator, EastGroup Properties oversees a portfolio of over 40 million square feet of commercial real estate nationwide, including 11 million square feet in Florida. The company is focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the US, with an emphasis in Florida, Texas, Arizona, California and North Carolina. EastGroup Properties, which is making a significant investment in the development of this corporate industrial park, is fully committed to its long-term success.
Larry W. Genet is a Senior Vice President in the CBRE, Inc. Miami, FL office. As part of the CBRE platform Mr. Genet can provide a wide range of services from local to Fortune 1000 clients including agency and tenant representation, asset or portfolio management, high level logistics, labor and data analytics prior to site selection, project/construction management, capital markets, owner user sales and valuation advisory services. CBRE is the global leader for real estate services worldwide.
Larry has extensive experience in landlord agency, tenant representation, acquisitions, dispositions and property management. As a third-generation commercial real estate professional and South Florida native, Larry boasts deep community ties, an intimate knowledge of the South Florida market and numerous professional contacts. Larry’s leasing expertise of industrial, office, land, retail and medical properties coupled with his experience in acquisitions and dispositions gives him the ability to represent a myriad of clients in the South Florida market. Additionally, Larry controls a portfolio of 13.5 million square feet allowing him to see every deal in the market. This ensures his clients never miss an opportunity. His knowledge of tenants and buyers in the market is top notch and when coupled with his team's vast portfolio, it's a winning combination.
