Miramar Industrial Center Changes Hands For $59.5 Million

Prologis sold off its ownership of Countyline Business Center in Miramar in a $59.5 million deal.
In 2013, Prologis entered into a $960 million partnership with IndCor Properties, part of Blackstone, to invest in industrial properties nationwide. That included the 545,000-square-foot Countyline Business Center, just north of the Miami-Dade County line. In December, Blackstone sold IndCor to Singapore’s GIC Pte for $8.1 billion.
In January, JLL completed a 324,000-square-foot lease transaction with existing tenant, Floor and Decor Outlets of America, Inc. at the property, representing the largest industrial lease signed in South Florida so far this year. JLL’s Managing Director Steven Medwin SIOR, CCIM, Nick Wigoda, Senior Vice President, and Matt Maciag, Associate, completed the transaction on behalf of the property’s owner, IndCor Properties. The deal represented a renewal of 183,000 square feet and an expansion of an additional 140,000 square feet within the building.
 

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