142,000-SF Lease Signed at AMB's Dolphin Distribution Center in Gratigny
10 Jun, 2011, Miami
Cushman & Wakefield announced today that Atlas Paper Mills has signed a 142,000-square-foot industrial lease at AMB Property Corp.'s Dolphin Distribution Center, located at 3301 NW 107th Street in the Gratigny Central submarket.
Brian Smith, Wayne Ramoski and Audley Bosch of Cushman & Wakefield's Miami Industrial Team, represented AMB Property Corp. in marketing the available industrial space, and in lease negotiations with Atlas Paper Mills.
Atlas Paper Mills is a current tenant in AMB Property Corp.'s Gratigny portfolio. Its current lease at AMB Blackfin Distribution Center, a 281,000-square-foot industrial facility at 11400 NW 32nd Avenue, is set to expire in early 2012.
"This transaction is a true example that owning a critical mass of property in a major submarket enables an owner to provide solutions to tenants' changing needs," said Mr. Smith, an executive director based in Cushman & Wakefield's Miami office. "Atlas Paper Mills has been a great tenant and a great success story. With their model changing, they no longer required as much warehouse/distribution space, though still desired a location in close proximity to their manufacturing plant. AMB Property Corp. was happy to be able to retain them in a different building that better fits their needs for the long-term future."
AMB Property Corp. owns nearly two million square feet in the 6.5 million-square-foot submarket of Gratigny.
Atlas Paper Mills is a leading manufacturer of tissue paper as well as facial tissue, kitchen roll towels, hard-wound roll towels, center-pull towels and folded towels.
Mike Silver and Allen Lindow represented the tenant in this transaction.
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