MIAMI—In the largest industrial trade in Miami for more than a year, an 11-building portfolio in Medley has changed hands. The price was $59.85 million, or $71 per square foot.

Working with the leasing team of Americas Industrial Realty Corporation, CBRE represented the seller in the trade of Medley West, a 846,651-square-foot industrial park located at 9000 NW 106th Street in Medley, FL. Chicago-based Lincoln Property Company purchased the industrial portfolio for or $71 per square foot.

Medley West is located in the Medley submarket, where CBRE Research reported 4.2% industrial vacancy in the first quarter 2013. That's about 140 basis points below the industrial market average for Miami-Dade County. Medley West was 94.6% occupied at the time of the sale.