Miami-based COFE Properties sold its industrial portfolio in Hialeah for a combined $52 million. The buyer was a fund managed by Boston-based TA Realty, which previously owned most of this property.
A former Miami golf course turned into an industrial park. A Hollywood warehouse chopped up into six smaller offerings. And a bidding war over industrial space in East Hialeah. Commercial brokers recount these tales in South Florida, a market with high demand for warehouses but not enough industrial-zoned land for new development. Industrial experts must turn to
A strong performance in the South Florida industrial sector during Covid-19 didn’t fully translate to new milestones in the market’s top sales. The largest industrial sale of 2020, valued at $94 million, still fell below the biggest deals of 2019 and 2018, of $178 million and $180 million, respectively, according to an analysis by The
Industrial development giant Prologis acquired 28.45 acres near its Beacon Lakes Business Park in west Miami-Dade County. The company, through affiliate Prologis-Exchange Beacon Lakes 46 LLC, issued four deeds for a combined $22.7 million.
Investors can’t get enough of warehouses and logistics spaces these days, but there are some signs that a bubble could be forming. Asset management firms including Blackstone Group, Cerberus Capital Management and KKR have doubled down on logistics centers, and prices for warehouses have surged, Bloomberg News reported. According to real estate research firm Real Capital Analytics, values for industrial
