Fully Occupied, 211K-SF Infill Warehouse Trades For $43.5 Million
The building features 24’ clear span heights, a 335’ building depth, 49 loading positions, and 95’ to 150’ truck court depths.
The building features 24’ clear span heights, a 335’ building depth, 49 loading positions, and 95’ to 150’ truck court depths.
Wayne Ramoski, Ivanna Leitner Perez, and Skylar Stein of Cushman & Wakefield represented the landlord in the lease negotiations. Will Falero of Pro Industrial represented one tenant while Ken Morris and Sky Groden of JLL represented another.
The upcoming project will encompass 235,812 square feet of industrial space, boasting a 40-foot clear height, 46 dock doors, and designated parking for 203 vehicles and 76 trailers.
Colliers’ Erin Byers, Lauren Pace, Ruben Suarez, and Steven Wasserman will lead marketing efforts for the property.
The 82,261-square-foot coolered facility, situated on a 3.34-acre lot east of Milam Dairy Road, was acquired by Iconic Equities, LLC, a Miami-based real estate investment firm specializing in Industrial Outdoor Storage (IOS) and industrial development.
The asset traded for $21.5 million.
This partnership will allow Bridge and CPP Investments to target high-quality industrial properties in key markets, as retailers compete for faster shipping times despite increasingly limited space for new warehouse construction.
The 72,866-square-foot industrial property, strategically situated in South Florida’s thriving industrial market, presents a significant opportunity for Longpoint Partners to expand its portfolio in the region.
Cushman & Wakefield’s Miguel Alcivar, Stuart Gordon and Matthew Bittel along with Marcus & Millichap’s Derrick Dougherty represented the seller in the transaction.
The ten-year lease will commence upon completion of building construction and tenant improvements expected to be in June 2025.
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