MIAMI—A 1.3 million-square-foot triple net leased portfolio in Medley, FL, has traded hands. Dubbed the LKQ Portfolio, the three-property collection in western Miami-Dade County sold for $17.3 million.

Alex Zylberglait, first vice president investments, and Joseph Phelps, associate, both in Marcus & Millichap's Miami office, represented the seller, a private investor. Gramercy Property Trust snapped up the assets. LKQ Corp is a Fortune 500 company and the industry leader in the sale of aftermarket and recycled auto parts.

“The properties in the portfolio combine to be the largest auto salvage business in Miami-Dade County,” says Zylberglait. “They have been operated as auto salvage facilities for more than 40 years. New properties that permit this use face updated restrictions from the county.”

Located off the Palmetto Expressway at 8100 Northwest 74th Street, 8130 Northwest 74th Street, and 9800 Northwest South River Drive in Medley, similar businesses surround these assets. The 8130 NW 74th Street location is a car and metal recycling facility. The other two properties operate as “Pick Your Part” salvage yards and.

A 13,130-square-foot structure at 8100 NW 74th Street serves as the entrance to the yard and a similar, 3,950-square-foot building at 9800 Northwest South River Drive. A 10,000-square-foot two-story building at 8130 Northwest 74th Street is the administration office for the businesses.