Centergate at Gratigny, Hialeah, FL

HIALEAH, FL—The 1.6-million-square-foot Centergate at Gratigny distribution center here has changed hands in a deal that brokerage firm CBRE states is the largest industrial transaction of the year in the State of Florida.

The three-building Class A industrial property, located at 5801 and 6301 East 10th Ave., features a 978,164-square-foot distribution and light assembly warehouse (phase one) and two newly constructed state-of-the-art distribution buildings totaling 602,657 square feet (phase two). Phase one was built in 1999 and features a mix of 32-foot, 17-foot, and 13-foot clear span heights, an above-market 1.7 per 1,000-square-foot auto parking ratio, 140 trailer parking spaces, and 7% overall office finish. Phase two features 32-foot clear span heights and a dock-high rear-load configuration with ample dock-high doors given its 233-foot deep buildings, CBRE reports.

Little detail was available at press time on the transaction, including the identity of the seller, which was only identified as a global investment management firm that acquired the property in 2015. CBRE in its announcement did not identify the buyer of the complex.