First Availability in Decades: ±92,262 SF Industrial Building in Miramar Backfilled With Two Tenants

For the first time in several decades, the landlord faced a large upcoming vacancy as their existing tenant prepared to relocate a portion of its operations to Mexico. This created a significant challenge given the building’s size, over 92,000 SF, in a submarket where only 27 buildings between 75,000–125,000 SF exist out of about 800 total. With limited tenant depth at this scale and the property’s specialized manufacturing infrastructure, the pool of qualified prospects was exceptionally narrow.

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We implemented a strategic marketing plan designed to maximize exposure and generate activity quickly. More than 20 qualified tours were conducted in a short time frame, targeting users with specific power and infrastructure requirements. At the same time, we engaged the existing tenant in renewal discussions, exploring a consolidation into a smaller footprint to maintain their presence in the building.

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We secured a renewal with the existing tenant for approximately 55% of the building and signed a new lease with a specialized manufacturing user for the remaining 45%. The outcome not only backfilled the building’s first vacancy in decades but also delivered improved economics for the landlord, ensuring stability and value preservation in a highly constrained market segment.

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