Retail giant Walmart has signed an industrial lease agreement in Miami-Dade County, reportedly for over 130,000 square feet. The company concluded the agreement for a warehouse owned by Seagis Property Group, located at 10900 Northwest 138th Street in Medley, near West Okeechobee Road and the Florida Turnpike, according to property data.
The lease agreement has a term of 16 years and includes three extension options of five years each. Public documents indicate that the tenant will occupy the entire 130,150 square feet of the property. The building is 40 feet high and features two drive-in gates as well as 46 loading docks.
A Walmart spokesperson declined to comment. A representative for the landlord did not respond to requests for comment. Seagis Property Group completed the warehouse this year after acquiring the 13.2-acre site in 2022 for $17.5 million.
Active Expansion in South Florida
This is not Walmart's only recent transaction in the region. In another recent deal in South Florida, the Bentonville, Arkansas-based company Walmart acquired a 24-acre plot in Palm Beach County for $11.7 million in August, with the intention of building a superstore there.
Furthermore, at the end of last year, Walmart renewed its existing lease for an 83,342 square foot industrial space at 1981 North Powerline Road in Pompano Beach, as detailed in a market report from Cushman & Wakefield. These activities underscore the company's continued strategic presence in the region.
