TA Realty Buys 500,000 SF Industrial Park

CBRE has arranged the sale of Ironwood Commerce Center, a self-contained industrial park in Miami totaling 505,436 square feet to Boston-based TA Realty for an undisclosed amount.

José Lobon, Frank Fallon, Trey Barry, Royce Rose, Gabriel Braun and Daniel Sarmiento with CBRE National Partners represented the undisclosed seller in the transaction.

Ironwood Commerce Center encompasses four warehouses that are 65% leased to six tenants. All warehouses feature modern specifications, including 32’ clear span heights, 125’ to 195’ building depths, 120’ single to 180’ shared truck courts, and 168 loading positions. Current vacant spaces have spec office and demising walls built and ready for immediate occupancy.

“Top industrial facilities like this one continue to trade, proving that the Miami metro area is the best-performing industrial market in the country,” said Lobón, a Vice Chairman with CBRE. “The park drew strong interest from numerous potential buyers attracted to its location and market-driven design specs. The new owners are well-positioned to realize upside potential through the lease-up of the remaining vacant space.”

The park is situated in North Central Dade, making it one of the furthest-east construction projects in Miami-Dade County and one of the closest to Golden Glades Interchange. Its location allows for immediate access to wealthy demographics along the coast, as well as the intersection of key tri-county highways, including I-95, Florida Turnpike, Palmetto Expressway, SR 9 and SR 7.