Codina Sells Hialeah Industrial Park For $174M

Codina Partners, led by veteran developer Armando Codina, sold its Beacon Logistics Park in Hialeah for a combined $174.35 million.

The buyer of all three deeds was Southeast Commercial LLC, an affiliate of Salt Lake City-based Property Reserve, led by CEO Ashley Powell.

The largest transaction was for $97.82 million, with RELP Beacon Logistics LLC, an affiliate of Coral Gables-based Codina, selling 50 acres at 4121 W. 91st Place. Four buildings are permitted for construction there, with work under way on two of them.

In addition, Codina-led companies sold the 148,169-square-foot warehouse on 8.1 acres at 4220 W. 91st Place for $38.42 million and the 148,592-square-foot warehouse on 8.3 acres at 4120 W. 91st Place for $38.11 million. They were built in 2021 and 2020, respectively.

Codina Partners broke ground on Beacon Logistics Park in 2018. The site was approved for up to 1.5 million square feet of industrial development.

Source: SFBJ