“This asset is located in the heart of South Florida and is consistent with our strategy to acquire buildings with extra parking near major ports and population centers,” says Charlton. “It is very difficult to find large sites in the top five markets in the country. “In the last three years, CenterPoint has invested over $1.75 billion in acquisitions and development across the US, and we will continue to seek out additional opportunities in our target markets.”

(These types of properties don't last long in Miami.)

The warehouse has access to 6 million people in South Florida and is located four miles from the FEC Intermodal, five miles from the Miami International Airport, eight miles from the Port of Miami and 22 miles from Port Everglades. Property features include 216,000 square feet of cooler and freezer space, 92 dock high doors, 268 trailer parking positions, above standard car parking ratios and a secured truck court.

While CenterPoint is investing in large-scale industrial properties in the region, Ernesto Cambo, principal of cpf investment group, developer of AVE Aviation & Commerce, says there is a growing appetite for smaller industrial assets. His mantra, “If you build it, they will come.”

“In the last 18 months, we are especially seeing this trend follow demand for space under 25,000 square feet,” Cambo says. “This growth is fueled by the loosening of capital, which has allowed small businesses in various sectors—such as e-commerce, international trade—to grow inventory and cement their presence in South Florida.”

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.”

Located on 59 acres, the industrial facility offers direct access to several major trucking routes. It sits within two miles of Interstate 826, Interstate 924, Interstate 75 and Interstate 95.

“This asset is located in the heart of South Florida and is consistent with our strategy to acquire buildings with extra parking near major ports and population centers,” says Charlton. “It is very difficult to find large sites in the top five markets in the country. “In the last three years, CenterPoint has invested over $1.75 billion in acquisitions and development across the US, and we will continue to seek out additional opportunities in our target markets.”

(These types of properties don't last long in Miami.)

The warehouse has access to 6 million people in South Florida and is located four miles from the FEC Intermodal, five miles from the Miami International Airport, eight miles from the Port of Miami and 22 miles from Port Everglades. Property features include 216,000 square feet of cooler and freezer space, 92 dock high doors, 268 trailer parking positions, above standard car parking ratios and a secured truck court.

While CenterPoint is investing in large-scale industrial properties in the region, Ernesto Cambo, principal of cpf investment group, developer of AVE Aviation & Commerce, says there is a growing appetite for smaller industrial assets. His mantra, “If you build it, they will come.”

“In the last 18 months, we are especially seeing this trend follow demand for space under 25,000 square feet,” Cambo says. “This growth is fueled by the loosening of capital, which has allowed small businesses in various sectors—such as e-commerce, international trade—to grow inventory and cement their presence in South Florida.”