A 12-building industrial park has sold for $241 million according to various news reports as industrial property remains in high demand in South Florida.
According to a report from CBRE, a warehouse near a busy airport in a land-constrained market commands higher rents than their market average. In Miami, warehouses by the airport see a 24.6% premium over the average metro-area rent.
CBRE arranged the sale of the 1,060,740 square-foot industrial park in Miami's Medley submarket.
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Melea VanOstrand
Melea VanOstrand oversees the Daily Business Review as ALM's Florida Bureau Chief. Email Melea at [email protected] or follow her on her Twitter or Facebook pages.
