Foundry Commercial, in partnership with HighBrook Investors, recently announced closing on the Americas International Center (“AIC”) industrial park, located along NW 12th Street in Miami-Dade County.
The 147,000-square-foot shallow bay facility, which is 95% leased, is positioned within one of the most active industrial submarkets in the country.
“The popular Airport West submarket, offering ease of access to all of Miami-Dade County, including the port, the airport, and multiple major arteries, provides the ideal location for an asset class which continues to experience increased demand,” stated Ted Elam, Vice President of Development & Investments, Foundry Commercial. “There are a number of options to consider for the future of this property. HighBrook and Foundry can create value by improving the existing asset and there is also the potential for redevelopment in an extremely desirable industrial corridor.”
Foundry and HighBrook purchased the property from a family business unit that had owned AIC for more than 20 years. Foundry Commercial has developed over 6.4 million square feet in South Florida during the past three years.