MIAMI-In one of the largest industrial land transactions in Miami-Dade County since the Great Recession began, Liberty Property Trust just snapped up 126 acres to develop Miami International Tradeport for about $20 million. The new development will add 1.6 million feet of institutional-grade warehouse and distribution space to the region.

Butters Construction & Development is overseeing construction of the new park. Christian Lee and Chris Riley led the transaction for CBRE, assisted by Charles Foschini, vice chairman of Debt & Equity Finance, Devin White, vice president of Industrial, David Albert, senior vice president of Industrial and financial analyst Jose Lobon.

“This acquisition marks our entrance into Miami-Dade County,” says Andy Petry, vice president and city manager for Liberty. “We feel there is a tremendous opportunity for well-designed and well-located industrial product in Miami-Dade County, and we are excited to begin development and to grow our footprint in South Florida.”