Waste Management Firm Buys Miami-Dade Trucking Terminal For $51M

Waste Connections has expanded its South Florida footprint with the acquisition of a 12-acre trucking terminal in Miami Gardens for $51 million.

The property, located at 17707 Northwest Miami Court, was purchased from CenterPoint Properties and is strategically positioned along Interstate 95 just north of its interchange with Florida’s Turnpike, providing convenient access to major regional transportation corridors.

The site is designed to support large-scale fleet operations, featuring approximately 370 truck parking spaces and a 3,786-square-foot support building. The acquisition aligns with Waste Connections’ operational needs as the company continues to invest in infrastructure that supports waste collection, transportation, and logistics in one of the nation’s fastest-growing metropolitan areas.

For CenterPoint Properties, the sale represents a successful disposition of an industrial outdoor storage asset. The company acquired the terminal in 2022 for $47.5 million and sold it for $51 million, realizing a modest gain while continuing its strategy of capitalizing on strong investor demand for well-located logistics facilities. The transaction follows another recent trucking terminal sale by CenterPoint in Miami-Dade County, underscoring the sustained interest in industrial outdoor storage properties across South Florida.

The sale highlights the continued strength of the industrial outdoor storage market, where properties offering extensive truck parking and direct highway access remain highly sought after by transportation, logistics, and fleet-based operators. As e-commerce, freight movement, and essential service providers continue to drive demand for strategically located industrial sites, assets such as the Miami Gardens terminal are expected to remain valuable components of the region’s industrial real estate market.

Source: Commercial Observer