MIAMI—CenterPoint Properties just acquired the largest warehouse in Miami-Dade County. Financial terms of the deal were not disclosed.
The 961,345-square-foot industrial facility is located at 3300 Northwest 123rd Street in Miami. Erik Lundberg and Jeff Hughes of Stan Johnson Co. represented the seller.
“This is CenterPoint's second large investment in the dynamic and growing Miami market in the last six months,” says PJ Charlton, senior vice president of Investments at CenterPoint, noting the acquisition is a “highly functional building” on a large land site in one of the best markets in the country. The real estate opportunity was very unique and the basis was compelling and well below replacement cost.”
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