JLL Reps EastGroup In Sale Of Shovel-Ready Industrial Site

JLL Capital Markets announced the sale of Gateway Commerce Park Land, a 6.86-acre shovel-ready industrial development site in Miami Gardens.

JLL represented the seller, EastGroup Properties, in the sale. The names of the co-broker(s) and the sale price were not available at the time of publication.

The parcel is located at 1500 Northwest 215th St. and offers more than 1,000 feet of frontage along Florida’s Turnpike, the state’s primary transportation corridor. The site featured complete civil plans for the development of two Class A rear-loaded, grade-level flex industrial buildings.

The property is strategically positioned along the Miami-Dade and Broward County line within the established Gateway Commerce Park, an approximately 850,000 square foot Class A logistics park developed and owned by EastGroup Properties. The property provides immediate access to Florida’s Turnpike and is positioned within a 20-minute drive of Miami International Airport and approximately 21 minutes from Port Miami. The site offers access to more than 6.3 million people within a 90-minute drive time.

JLL Capital Market’s team representing the seller included Senior Managing Director Luis Castillo, Managing Director Cody Brais, Associate Taylor Osborne and Analyst David Orta Jr.

“The scarcity of developable industrial land in Miami-Dade County continues to drive investor interest in entitled sites like Gateway Commerce Park Land,” Brais said. “With 95% of new industrial supply targeting tenants over 100,000 square feet, this project is positioned to capture strong demand in the shallow bay segment where nearly 60% of all leasing activity occurs in spaces under 30,000 square feet.”