Investors Seeking New Opportunites For Industrial Investment In South Florida

Colliers’ Steven Wasserman and Erin Byers represented real estate investment firm Elion Partners in the recent acquisition of two industrial properties, expanding the firm’s strategic footprint in South Florida.

The properties include 2875 NW 77th Ave. in Miami, a 59,135 square foot building fronting the Palmetto expressway in the heart of Doral, purchased for $7.23 million from seller Pola’s Enterprises and 3400 Park Central Boulevard N. in Pompano Beach, a 43,000 square foot building, purchased for $4.15 million from seller KEI Properties, LLC.

The deals are indicative of the ongoing interest from institutional investors making strategic investments in industrial product, with a particular focus on South Florida. High barriers to entry such as limited land availability have forced investors to move swiftly, with the heightened demand for space especially evident in Miami-Dade County, as a colossal 1.27 million square feet of industrial space was absorbed during 2Q 2018.

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TA Realty Sells Miami-Dade Warehouse Portfolio

TA Realty just sold three warehouses in Miami Gardens and near Hialeah for $21.35 million to RREEF Property Trust, an arm of Deutsche Bank asset management.

The industrial portfolio spans 290,000 square feet, meaning the deal breaks down to nearly $75 per square foot. Records show TA Realty spent a total of about $17.6 million acquiring the sites in 2007 and 2008 through an affiliate company, the Realty Associates Fund VIII.

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