Miami-Dade Industrial Park Sells For $46.6 Million

CBRE Capital Markets brokered the sale of International Corporate Park, a three-building, 340,143-square-foot industrial asset, on behalf of a Boston based investment fund. The property was purchased by a major institutional investor for $46,600,000, or $137 per square foot, representing a high-water mark for warehouse distribution space in Miami.
Located at 9825 NW 17th Street, 1530 NW 98th Street, and 9835 NW 14th Street, the portfolio is located within one of the strongest industrial submarkets in Florida, Miami’s Airport/Doral submarket.
At the time of closing, the three buildings were 100% occupied by two credit-worthy tenants on long-term leases. These Class A properties were delivered between 1999 to 2001 and possess the required functionality to retain and attract the target tenancy.
CBRE Capital Markets professionals in Miami, Florida and Atlanta, Georgia teamed up to market the asset for sale and negotiate the transaction on behalf of the seller. Team members included Vice Chairmen Christian Lee, Charles Foschini, and Chris Riley and Vice Presidents Christopher Apone and Brian Budnick.