CenterPoint properties acquired an industrial portfolio of three buildings attached to Amazon and covers nearly 740,000 square feet in Miramar, Florida, Illinois Link Logistics Sold fully leased Class A warehouses for $ 170.1 million, Broward County records show.
The portfolio includes the County Line Business Center with an area of 550,212 square feet on 31.3 acres at 3701 Flamingo Road, as well as the I-75 Distribution Center building covering 80,600 square feet on the 2601 SW 145th Ave., and II on the adjacent area of 108. a total of 12.4 hectares.
The Countyline business center has a 30-foot net height, a 195-foot truck court, high doors and 558 parking spaces. Completed in 1999, all three designs are equipped with an ESFR sprinkler system. Both smaller buildings have a height of 24 feet, truck sites from 95 to 115 feet and a total of 46 doors. The I-75 Distribution Center is less than three miles from Countyline Business Center, and all three have easy access to Interstate 75 and less than 23 miles from Everglades Harbor.
A CBRE the team, which included Jose Lobon, Trey Barry, Tom O’Loughlin, Frank Fallon and Royce Rose, represented the seller in the deal.
While Countyline’s business center is occupied by Amazon, the list of tenants also includes Universal Technical Institute, Turbo Air and FLG Technics, according to CommercialEdge. As of March, the level of industrial vacancy in the Miami subway decreased by 60 basis points compared to the month and amounted to 3.4 percent, according to the same source. The metro still exceeds the national average, which fell by 20 basis points to 5 percent over the same period.
In the same month Duke Realty Corp. rent a complete building with FedEx Soil. The shipping company will occupy more than 500,000 square feet of space in the Miami 27 business park in Medley, Florida.
The industrial footprint is growing
The buyer is also an active investor in other markets. Recently, CenterPoint Properties bought out Fr. two-storey industrial complex with a total area of 360,000 square feet in Hatta, Texas. In February, the company acquired Fr. The building is 108,616 square feet in Ontario, California, increasing the industrial footprint in Southern California to about 7.7 million square feet. According to CommercialEdge, nationwide industrial sales in the first quarter were just over $ 14.8 billion.