In South Florida, WareSpace acquired 4900 NW 167th Street in Miami Gardens for $20.42 million. The 100,000-square-foot property will be converted into flexible warehouse units, expected to serve more than 125 small businesses, along one of Miami-Dade County’s busiest commercial corridors. The property has direct access to the Palmetto Expressway and I-95 and is approximately 18 minutes from WareSpace’s existing Medley location and 35 minutes from the Fort Lauderdale location, which opened earlier this year. <\/p>\n
In South San Francisco, WareSpace purchased 161 Starlite Street for $16.05 million. The 64,103-square-foot industrial property will be converted into 85+ flexible units for small businesses in one of the country’s most supply-constrained industrial markets. Small-bay industrial inventory in the area has declined by approximately 5% over the past five years, with no new small-bay supply currently under construction. <\/p>\n
“These acquisitions are in very different parts of the country, but the opportunity is remarkably similar,” said Joseph Ely, Co-Founder and COO of WareSpace. “Both areas are population dense, high-barrier markets where small businesses need industrial space close to their customers and employees, but appropriately sized options are increasingly difficult, if not impossible, to find. We’re continuing to invest in locations and assets where we see that disconnect and where our model can solve a real need for business owners across America.” <\/p>\n
“Miami gives us the opportunity to build on the momentum we’ve already established in South Florida, while South San Francisco opens the door to a new market where industrial space is becoming increasingly scarce,” said Levi Cohen, Co-Founder and CEO of WareSpace. “Both acquisitions reflect how we’re growing \u2014 expanding in markets where we’ve seen strong demand while selectively entering new ones where we see a clear opportunity for the WareSpace model.” <\/p>\n
WareSpace will reposition both properties into flexible, move-in-ready warehouse units typically ranging from approximately 200 to 2,000 square feet. The company’s model combines shorter-term leases with all-inclusive pricing and on-site services, giving contractors, e-commerce businesses, distributors, service companies and other small operators access to industrial space without the size and long-term commitments associated with traditional warehouse leases. <\/p>\n
The two acquisitions continue a period of rapid national growth for WareSpace as it expands its micro-bay model across major U.S. metropolitan areas. <\/p>\n
Businesses looking for flexible warehouse space in Miami Gardens or South San Francisco can learn more and join the waitlist at warespace.com. <\/p>\n
About WareSpace <\/p>\n
WareSpace is a national real estate firm specializing in the development of co-warehousing and small-bay industrial spaces between 200 and 2,000 square feet. WareSpace creatively adapts and reconfigures dated industrial and challenged properties into thriving hubs that support surrounding small business communities. Operating with a vertically integrated structure, WareSpace offers major service lines in-house, including acquisitions, development, construction, finance, operations, marketing and sales. <\/p>\n
Learn more at warespace.com. <\/p>\n
For Media Inquiries: <\/p>\n
Kimberly Cure
7038190161
422710@email4pr.com<\/a> <\/p>\n