Codina Sells New Industrial Building In Hialeah To LDS Church For $56 Million

Codina Partners sold a new warehouse in Hialeah to a real estate firm sponsored by the Church of Jesus Christ of Latter-day Saints (LDS) for $55.86 million.

RELP Beacon Logistics LLC – an affiliate of Coral Gables-based Codina, led by veteran developer Armando Codina – sold the recently completed warehouse of 232,620 square feet at 4141 W. 91st Place at Beacon Logistics Park to Southeast Commercial LLC, an affiliate of Salt Lake City-based Property Reserve, an investment arm of the Church of LDS. The price equated to $239 per square foot.

The warehouse was built on a 12.3-acre site and features 36-foot clear height and 80 loading docks. According to a recent online listing, space in Beacon Logistics Park Building C is available for $15.50 per square foot.

This is actually the fifth building in Beacon Logistics Park that Southeast Commercial has purchased from Codina Partners. In December, it purchased four warehouses from the company.

Earlier this month, Southeast Commercial LLC purchased an apartment building in Plantation.

Source: SFBJ