Crow Brings CalPers' Americas' Gateway Park to 100% Occupancy

MIAMI-Trammell Crow Co. brokers Walter K. Robinson and Edward P. Lyden have brought the 17-year-old, six-building, 306,924-sf Americas’ Gateway Park, directly west of Miami International Airport, to 100% occupancy.

The Robinson-Lyden team signed three tenants to three-to-five year expansions, renewals and new space totaling 145,825 sf with an estimated aggregate rent value of $4.75 million, based on five-year leases.

Precision Trading Corp. renewed its warehouse leases of 56,800 sf and 16,700 sf and also expanded by 7,400 sf. Sunshine bouquet Inc. renewed its 21,570-sf lease and took an additional 32,355 sf. Petal Fresh Inc., a new tenant, leased 11,000 sf.

The full house at Gateway Park is welcome news to property owner CalPers of Sacramento, CA which has been competing for tenants in a tough submarket.

“The Airport West submarket has been characterized by double-digit vacancy numbers over the last year, with a year-end vacancy rate hovering around 13%,” Robinson, Crow’s vice president/project leasing, says in a prepared statement.

Besides Precision Trading, other major tenants are Noland and Duron.