As investor interest intensifies for industrial space in South Florida, JLL completes two sale transactions in Miami-Dade, totalling 312,000 square feet.
In the larger transaction, a 271,000-square-foot warehouse was sold in North Dade. The second sale involved a 41,000-square-foot industrial building fully-leased located in the Medley submarket.
JLL’s Managing Director Steven Medwin SIOR, CCIM, Vice President Nick Wigoda, SIOR, and Matt Maciag, Industrial Associate, represented the buyer Marjam Supply Company, Inc., a major building materials distributor, in the North Dade property located at 18000 State Road 9. Marjam is relocating from a nearby facility in North Dade and expanding significantly from the 65,000 square feet it now occupies. The seller, Prologis, was represented by Brian Smith and Audley Bosch of Cushman & Wakefield.
In the second transaction, JLL’s industrial team represented Prologis, a leading owner, operator and developer of industrial real estate with more than 11 million square feet of industrial space in South Florida, in the sale of a fully-leased, 41,000-square-foot industrial property inside the Pan American North Business Park at 11200 NW 138th St. The building was purchased by an institutional investor. The JLL brokers sold this building to Prologis two years ago.
“Strong fundamentals for Miami-Dade’s industrial market are making it very desirable for both institutional investors and end users to invest, as these latest transactions indicate,” Medwin said. “We expect investor appetite to remain strong for quality industrial assets in the region over the coming months.”
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