A Solidified Leadership Team, the South Florida Logistics Center's Grand Opening and USDA Approval of FGL's Innovative New Cold Chain Technology Mark 2013 Milestones.
CORAL GABLES, FL (February 10, 2014) - Flagler Global Logistics ("FGL"), a worldwide logistics company providing a full suite of integrated supply chain management services and real estate solutions, has fully leased Building 1 at its new South Florida Logistics Center located adjacent to Miami International Airport, along with more than 600,000 square feet of industrial space at its Flagler Station business park. The brisk leasing activity caps off a landmark year in which the company also welcomed new executive team members, underwent a name rebranding, and introduced a revolutionary cold chain treatment process that was approved by the United States Department of Agriculture (USDA).
Solidified Leadership Team
In 2013, Flagler Global Logistics appointed respected supply chain industry leader and former Winn-Dixie executive Chris Scott as President and CEO. Scott is leading the dramatic growth of the company's business in both the United States and Latin America.
The company also added commercial real estate veteran Daniel Marcus as Executive Vice President of Development. Marcus is spearheading the company's industrial development efforts across its 2,300-acre land portfolio, which can accommodate more than 23 million square feet of industrial development.
Construction Update: New Logistics Center Opens, Receives USDA Certification
Over the past year, Flagler Global Logistics delivered or started construction on more than 1 million square feet of Class-A industrial space at the company's new intermodal facility-the South Florida Logistics Center-and its flagship Flagler Station business park. In addition, FGL has four other strategic industrial park projects located throughout Florida that are in the pre-development phase.
South Florida Logistics Center officially opened for business with the October inauguration of Building 1-a 170,000-square-foot industrial warehouse facility featuring 60,000 square feet of refrigerated space. The Center's expansion plans, which call for the development of up to two million square feet of industrial space at the 200-acre site, will compound in 2014-the company has already started construction on two new buildings totaling 380,000 square feet. A little more than a month after opening, the Center received USDA approval for an exclusive, eco-friendly treatment method for produce which helps in preserving the "cold-chain" for fruits, vegetables, extending the product's shelf life.
"With unparalleled access to air, rail, sea and road transportation, superior third-party logistics support, and scalable real estate solutions, the South Florida Logistics Center is uniquely positioned to become the undisputed trade gateway for the Americas and beyond," said Scott. "The USDA's approval of our innovative cold chain treatment is a game-changer in the perishables sector. It provides Latin American exporters a viable alternative to not only bring their produce to supermarket shelves in the United States more efficiently, but maintain a higher quality product with a longer shelf life."
At Flagler Station, South Florida's largest business park which boasts its own turnpike interchange and is home to industry leaders such as Ryder, Crowley and FedEx, FGL completed construction on the 171,668-square-foot Building 30 and 171,994-square-foot Building 31. The company also broke ground on Buildings 32 and 34, which combined will add an additional 500,000 square feet plus of prime industrial space.
Industrial Leasing Activity on the Rise
Vice President of Business Development Chris Sutton, SIOR, has led the commercial leasing charge at both the South Florida Logistics Center and Flagler Station, closing nearly 750,000 square feet of industrial lease transactions between the two properties in 2013.
"We've experienced strong leasing activity as demand continues to rise, in large part due to our unrivaled portfolio of industrial land with entitlements to build in excess of 20 million square feet of warehouse space throughout Florida," said Sutton. "Our properties are particularly in high demand thanks to their prime locations with access to Florida's busiest air and seaports; high-quality, efficient building designs with features including 30' plus clear ceiling heights; and flexible size ranges that allow us to accommodate tenants of all sizes. We have enough industrial land to accommodate any size build-to-suit requirement, which not many other companies in this marketplace can do."
At South Florida Logistics Center (SFLC), Flagler Global Logistics, which provides third-party logistics services including its innovative USDA approved cold chain treatment, opened its new 114,187 square foot distribution center. The Goodyear Tire and Rubber Company leased 28,682 square feet of space for operations. Flying Food Group also leased 28,676 square feet of space for operations. Both companies were represented by David Albert, SIOR, Devin White, and Andrew Lehrer of CBRE.
At Flagler Station, South Florida's largest business park, Starboard Cruise Services' leased 218,673 square feet of space at Building 34, which represented the largest industrial lease transaction of the year in the Medley submarket. The tenant was represented by Charles V. Barton, John Marshall and Matthew Cheezem of Cresa.
Other noteworthy industrial lease transactions at Flagler Station in 2013 include:
- Nipro Medical Corporation leased 86,076 square feet of space at Building 31. The tenant was represented by Ed Lyden of State Street Realty.
- Senator International leased 70,411 square feet of space at Building 30. Gabriel Garcia-Menocal, SIOR and Lucia Custer of NAI Miami represented the tenant.
- TricorBraun leased 63,820 square feet at Building 30. The tenant was represented by Charles V. Barton of Cresa.
- Total Cargo Services leased 56,135 square feet at Building 31. The tenant was represented by Gabriel Garcia-Menocal, SIOR and Lucia Custer of NAI Miami.
- Traffic Tech leased 37,437 square feet at Building 30. The tenant was represented by Michael Torna of Corporate Solutions.
- International Cruise Duty Free leased 29,783 square feet at Building 31. The tenant was represented by Mark Aleman of DiGiacomo Group.
Rebranding to Reflect Global Reach
As the company's logistics services capabilities and product offerings expand worldwide in step with customer demand, the company rebranded from South Florida Logistics Services to Flagler Global Logistics.
"The rebranding perfectly captures the growing global scale of our end-to-end logistics capacity while linking back to our rich Florida and real estate development heritage established under the recognized Flagler brand," explained Scott. "Flagler Global Logistics will effect a dramatic shift to redirect the flow of goods from the southeast to the northeast and further solidify South Florida's position as a strategic gateway for domestic and foreign commercial trade."
About Flagler Global Logistics
Flagler Global Logistics is a worldwide logistics company that provides a full suite of integrated supply chain management services, including consolidation and deconsolidation, multimodal transportation, warehouse management, Foreign Trade Zone, and dry and refrigerated cargo services, as well as flexible real estate solutions. Flagler Global Logistics has exclusive connectivity to South Florida's busiest ports and airport, which provides clients a competitive advantage when importing and exporting goods. The Company owns strategic assets throughout Florida, including approximately 1 million square feet of warehouse space and additionally 1,500 acres of well-located developable land suitable for 24 million square feet of industrial development. Headquartered in Coral Gables, Fla., Flagler Global Logistics is a wholly owned subsidiary of Florida East Coast Industries, LLC. For more information, visit http://www.flaglergl.com.
About Florida East Coast Industries
Florida East Coast Industries, LLC (FECI) is one of Florida's oldest and largest full-service commercial real estate, transportation, and infrastructure companies. Headquartered in Coral Gables, Fla., FECI has a rich history dating back over a century. Mr. Henry Flagler first established a predecessor company in 1892, which became a pioneer in the development of Florida's eastern coast. Today, FECI continues to transform Florida as the parent company to four distinct business lines including Flagler, a full-service commercial real estate company; All Aboard Florida, the United States' first privately owned and operated intercity passenger rail system; Flagler Global Logistics, an integrated logistics company that offers a wide range of logistics services and real estate solutions; and Parallel Infrastructure, a leader in third-party Right of Way (ROW) investments and management services. FECI is owned by private equity funds managed by affiliates of Fortress Investment Group, LLC. For more information, visit http://www.feci.com.
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