Longpoint Realty Partners bought a warehouse near Miami International Airport for $6.3 million, as the private equity firm continues to target commercial properties in South Florida.
New York-based Brookfield Property Group bought an industrial complex west of Miami International Airport for $82.9 million. Brookfield Property, a subsidiary of Toronto, Canada-based alternative asset manager Brookfield Asset Management Inc., bought the property from MICAP 18 LLC. The purchase price breaks down to $201 per square foot.
CBRE arranged the $19.5 million sale of the Tire Group International (TGI) Distribution Center, a single-tenant distribution building in Miami’s Airport West Submarket.
The economic shores are starting to get frothy, with incoming waves like Chinese tariffs and a downturn market threatening to crash on the beach. Despite this, the 2020 outlook for U.S. industrial real estate remains positive as low vacancy rates and rising rents offer a calming breeze.
South Florida developers tend to hone in on one or two areas they know best, and if you’re talking about Doral, there is no bigger honer than Codina Partners Executive Chairman Armando Codina, who built a master-planned community with schools, a city hall, 5,000 residential units, a Publix and 1M SF of commercial space. Codina,
