Prologis is ready to build the new 200,000-square-foot regional headquarters for Dufry at the Beacon Lakes industrial park.
By Lidia Dinkova
A travel retailer is moving its office and warehouse to a 200,000-square-foot space west of Miami International Airport in another deal demonstrating industrial growth.
Switzerland-based Dufry AG owns and operates retail shops at airports, cruises and train stations. Its Latin American regional headquarter, including offices and warehouses, is in a 160,000-square-foot space at the International Corporate Park in Doral.
It’s moving about two miles west to Beacon Lakes, an expansive industrial and retail park northwest of the Dolphin Expressway and Florida’s Turnpike near Doral. Construction on the new headquarters is set to start by the end of March.
“Their business had been growing,” said Christopher Harak, senior vice president for Blanca Commercial Real Estate, which brokered the new lease on behalf of Dufry.
Prologis, the owner and developer of Beacon Lakes, will develop the new building for Dufry on the southeast corner of Northwest 137th Avenue and 14th Street.
Under the build-to-suit lease, the building will be designed with an eye toward efficiency with 32-foot warehouse ceilings, allowing for more storage.
“It’s going to allow them to essentially store 60 percent more goods in about 30 percent less space,” Harak said.
He declined to disclose the lease terms or value.
Blanca Commercial’s Juan Ruiz worked along with Harak on the deal. JLL represented Prologis.
The industrial market in Miami-Dade County has been healthy with high occupancy rates, according to a Cushman & Wakefield report. The industrial vacancy rate was 4.7 percent in the end of 2017, and it was even lower in the Airport West submarket at 3.4 percent,
The new and old Dufry buildings are in the same submarket.
The company operates 2,200 duty-free and duty-paid shops worldwide. The Miami-Dade headquarters has operations in Latin America and the Caribbean. Its brands include Hudson, World Duty Free and Colombian Emeralds International.