MIAMI—In a deal that signals the high watermark for warehouse distribution space in Miami, International Corporate Park traded for $46.6 million. An institutional investor snapped up the industrial asset for $137 per square foot.

CBRE Capital Markets brokered the sale of the 340,143-square-foot warehouse. CBRE Capital Markets professionals in Miami, Florida and Atlanta, Georgia teamed up to market the asset for sale and negotiate the transaction on behalf of the seller. Team members included vice chairmen Christian Lee, Charles Foschini, and Chris Riley and vice presidents Christopher Apone and Brian Budnick.

“It’s a good time in the market to move industrial properties,” Lee tells GlobeSt.com. “The capital markets are strong both from a debt and equity perspective. The rental markets are strong. Everyone feels very optimistic that the market is going to continue to get even better in Miami.”