MIAMI-In the largest user acquisition in recent years, Costex Corp. has invested $10.3 million to purchase an industrial property. The supplier of new replacement parts for the heavy equipment industry needed a new building to handle its growing clientele.

Costex recently acquired the 180,000-square-foot industrial property at 7901–8187 NW 71st St. in Miami from Seagis Property Group, an industrial investment firm based in West Conshohocken, PA. CB Richard Ellis vice presidents Devin White and David Albert, along with associate Ronald Marrero, represented Costex. Jim Armstrong and Michael Waite of the Easton Group represented the seller.

“Hopefully this private user getting financed is a sign of things to come with the banks as we are coming out of this depression we’ve been in,” White tells GlobeSt.com. “The markets are a little wishy washy but I think that lends itself more to lending on hard assets as opposed to paper.”