Miami, FL
CBRE Arranges Sale of 12-Building Industrial Park Totaling 1MSF in Miami
November 21, 2022
Media Contact
Corp Communications Manager
CBRE has arranged the sale of a 12-building industrial park totaling 1,060,740 square feet in Miami. Boston-based TA Realty purchased the portfolio.
José Lobón, Trey Barry, Frank Fallon, and Royce Rose of CBRE Capital Markets along with Devin White of CBRE Industrial & Logistics represented the seller, a global investment advisor, in the transaction.
Located in Miami’s Medley submarket, the last-mile industrial park is fully occupied by 46 tenants across a range of industries including airlines and aviation, home design and improvement, third party logistics operators, and food distributors.
The property sits immediately off Okeechobee Road (U.S. 27), providing tenants access to three major highways (Palmetto Expressway/State Road 826, Interstate 75, and the Florida Turnpike/State Road 91), and the Miami International Airport.
According to a report from CBRE, warehouses around busy airports in land-constrained markets, like Miami, command higher rents than their market average. Airport-adjacent warehouses in Miami see a 24.6 percent premium over the average metro-area rent.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.