Codina sold the 200,600-square-foot warehouse located within Beacon Logistics Park in Hialeah to a real estate entity linked to the Church of Jesus Christ of Latter-day Saints.
This warehouse is the fifth building in Beacon Logistics Park that Southeast Commercial has purchased from Codina Partners. In December, it purchased four warehouses from the company,
The buyer of all three deeds was Southeast Commercial LLC, an affiliate of Salt Lake City-based Property Reserve. Industrial rent has surged in Miami-Dade County in recent years, so new warehouses have often sold for a premium.
Codina Partners and Affinius Capital have fully leased the industrial campus with power tools company Makita Latin America taking 92,300 square feet and All Glass Production taking 232,600 square feet.
Thirty years ago, Armando Codina launched his first industrial real estate project in Miami. Now, his daughter, Ana-Marie Codina Barlick, is leading the family-owned firm back into the warehouse industry with one of South Florida’s largest projects.