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December 22, 2011

AVE Aviation & Commerce Center Signs Industrial Lease with Universal Arts Pharmacy

by admin

MIAMI (Sept. 8, 2011) –– AVE Aviation & Commerce Center, the 2.6 million-square-foot, master-planned, mixed-use business park located at the western region of Opa-Locka Executive Airport, has signed a lease with Universal Arts Pharmacy for 12,000 square feet of industrial space, announced today Ernesto Cambo, principal of cpf investment group, developer of AVE.

 

The 10-year lease agreement, which is valued at $1.2 million, brings AVE’s total occupancy in its existing facilities to 100 percent. Hialeah-based Universal Arts Pharmacy will occupy warehouse space in early 2012 as part of the company’s expansion in AVE’s Building “N”, a Class A, 151,000-square-foot industrial building. Daniel Pou with Horizon Properties represented Universal Arts Pharmacy in the transaction.

 

Universal Arts Pharmacy is a pharmaceutical compounding laboratory that prepares customized medications for customers throughout the world. The company is the first in the state of Florida to have earned the Pharmaceutical Compounding Accreditation Board (PCAB) Accreditation, which validates its commitment to providing safe solutions to specialized medicines for patients and healthcare providers.

 

“The diversity of tenants at AVE, Universal Arts Pharmacy as a prime example, continues to showcase the strength and quality of the project,” said Ernesto Casal, principal of Capital Commercial Group, who represented AVE in the transaction. “AVE’s high-quality distribution space and attractive location were key attributes of Universal Arts Pharmacy’s expansion plans and support the company’s long-term real estate needs.”

 

“This transaction, having brought AVE’s occupancy to 100 percent, demonstrates that the project has maintained its value and will continue to foster a solid tenant mix,” added Cambo. “We expect activity to remain strong at AVE as companies continue to seek prime warehouse space in the Miami Lakes industrial submarket.”

 

AVE signed more than $50 million and 207,000 square feet of leases in 2010, including a $20-year agreement with premier fixed-base operator Banyan Air Service for a 135,000-square-foot private aircraft services facility to be built and designed by AVE. The Business Park has also completed and leased several other buildings within the 178-acre property, including a 500,000-square-foot mail sorting facility for the U.S. Postal Service

 

About AVE Aviation & Commerce Center

AVE Aviation & Commerce Center has been estimated in a study by the Beacon Council to have an economic impact in excess of $1 billion, with approximately 3,000 permanent jobs and 2.6 million square feet of retail and warehouse facilities, and aircraft hangars. The business park is the result of a long-term land lease from Miami-Dade County through the Miami-Dade Aviation Department. Completion of the entire business park is projected for 2015.

 

AVE’s amenities include underground utilities such as natural gas, and curb and gutter infrastructure, offering an efficient pole-free design, while also allowing for automatic stand-by generators that are capable of running continuously during storms, disaster recovery and extended power outages. On-site security, rear or cross-dock loading, and 24-foot interior ceiling clearance also add to the property’s distinct appeal. Additional information about AVE is available at www.avemiami.com.  For property inquiries, contact Ernesto Casal of Capital Commercial Group at (305) 591-3606.