An affiliate of Principal Financial Group, a publicly traded pension fund adviser, purchased five of the buildings, which total 709,000 sf. The sixth building was sold to Telefónica Data USA Inc., a tenant at the class A park.

Bidding for the 147-acre property was competitive, according to a Swerdlow spokesperson, as institutional investors see this submarket as desirable for industrial investment. The park's proximity to Miami International Airport, the country's busiest airport for international cargo traffic, helps. Also near the Port of Miami, the industrial park is a hub for international transportation and logistics companies.

The buildings sold were near full occupancy. Besides Telefónica, tenants at the park include: DHL Airways; Danzas Corp.; the US Postal Service; Savino Del Bene, an Italian international freight forwarder; and Senator International, a transportation and logistics company based in Germany. Telefónica, a tenant at the park for the last three years, has plans to grow its 174,000-sf web hosting and data center operations there.