Although certain asset classes may see isolated trouble, the broader industrial market in Miami appears resilient, with no signs of systemic weakness. The occupancy has slipped slightly from about 98% to 95% but points to a more balanced market.
In concurrent transactions, a warehouse in Doral and a warehouse in Hialeah Gardens was acquired by a partnership between Doral-based and Easton Group and Boston-based TA Realty.
The property’s advantageous location allows for easy access to Miami International Airport (MIA) and the nearby MIA Cargo HUB, one of the largest cargo airports in the U.S.A., which aligns perfectly with GSO Aviation’s logistical and operational needs.
out-of-state real estate investment firms. ABR Capital and East Capital Partners acquired two four-story office buildings and six industrial warehouses. The seller, an affiliate of Miami-based Cofe, paid $7.8 million for the 7.7-acre property in 2017.
An affiliate of Doral-based Easton Group and Irvine, California-based LBA Logistics obtained a $61.1 million construction loan to build a pair of warehouses in Hialeah. Principal Life Insurance Co. provided the mortgage to Hialeah Gardens Partner II Property Owner, an affiliate of Easton Group and LBA Logistics. It covers the 26.4-acre site at 4220 W.