CBRE Executes Sale of Three-Building, 692,000-SF Industrial Portfolio in South Florida

CBRE has arranged the sale of a 692,000-square-foot industrial portfolio in Miramar, Fla., to CenterPoint Properties.

José Lobón, Trey Barry, Frank Fallon, Royce Rose and Tom O’Loughlin with CBRE represented the seller.

Located in Broward County’s Miramar submarket, the three-building Class A portfolio is fully leased to six tenants. The properties are positioned within a 60-minute drive of 86 percent of South Florida’s 6.2-million-person population.

The portfolio includes:

• 3701 Flamingo Road: 500,000-square-foot building with 34-foot clearance height, cross dock loading, 14 dock doors, 5 drive-in doors, ESFR sprinklers
• 2601 SW 145th Avenue: 83,200 -square-foot building with 24-foot clearance height, rear loading, 12 dock doors, 2 drive-in doors, ESFR sprinklers
• 2701 SW 145th Avenue: 108,800 -square-foot building with 24-foot clearance height, rear loading, 34 dock doors, 2 drive-in doors, ESFR sprinklers

“The portfolio featured an attractive blend of both long-term stability of cash flow via investment grade tenancy, as well as near term upside through the rolling of in-place rents to market,” said CBRE Executive Vice President José Lobón.