The 300-acre, 97%-leased International Corporate Park consists of 13 modern warehouse/distribution buildings built from 1996 to 2002. The park is located in the Airport West submarket of the Miami-Dade County, within two miles of Miami International Airport and within five miles of the Port of Miami and Downtown.

In addition, Keystone has some development rights on extra ground within the park, and that could provide as much as around 340,000 sf of space. With the acquisition, Keystone expands into a new geographic market.

"This transaction establishes a foundation and major presence for the company in one of the most dynamic industrial markets in the United States," says Jeffrey E. Kelter, Keystone's president and CEO. "Miami is a market we have explored for years, and the market characteristics and fundamentals are very similar to those we know well in our existing core markets--a major distribution hub driven by international and domestic trade with significant constraints to new supply. Further, we believe the on-going relationship we have established with the Easton Group will provide us with a leg up in sourcing additional investment opportunities in this vibrant market."