Medley Commerce Heart in Medley, 15998 Walgreens Dr in Jupiter, 4281 & 4341 W 108th St in Hialeah, 3701 Flamingo Rd, 2601 & 2701 SW 145th Ave in Broward and 11801 NW 102nd Ave in Medley (Google Maps, Getty)
South Florida’s Industrial sector continued its warm streak in 2022 — even topping 2021.
The prime 5 income for this year beat past year’s leading 5 by square footage, sale price and normal price for every square foot.
In 2022, the major 5 product sales totaled $628 million, in contrast with very last year’s prime-five overall of $524 million. This year’s normal sale selling price of $126 million more than doubled final year’s common of $105 million. The ordinary selling price for each square foot also was larger this year, at $255, as opposed to $223.
Here’s a look at South Florida’s top rated five industrial product sales in 2022:
TA Realty pays $241M for warehouses in Medley’s Countyline Company Park
Boston-dependent TA Realty clinched this year’s priciest industrial offer, spending $241 million in November for 12 warehouses at 9701-9793 Northwest 91st Court docket in Medley.
TA Realty, a serious estate investment organization, acquired the property from DWS, a Chicago-based mostly world wide asset manager. The sale equated to $227 for every sq. foot.
CenterPoint Attributes picks up 3 Miramar warehouses from Blackstone for $170M
In next area, Oak Brook, Ill.-primarily based CenterPoint Qualities paid New York City-primarily based Blackstone $170.1 million in Could for a few warehouses in Miramar.
The warehouses, at 3701 Flamingo Highway, and 2601 and 2701 Southwest 45th Avenue, span 550,212 sq. feet, 80,600 square ft and 109,109 square toes, respectively, according to published reviews. The complete price tag for every square foot breaks down to $229.
MG3 purchases a Walgreens distribution facility close to Jupiter for $78M
In a sale-leaseback offer, MG3’s actual estate financial commitment believe in paid out $78 million, or $114 for each sq. foot, in November for a Walgreens distribution heart at 15998 Walgreens Travel near Jupiter.
Walgreens even now fully occupies the 683,000-sq.-foot assets, which serves 460 merchants from central Florida to the Keys. Aventura-dependent MG3 has a potent aim on constitution faculties. Last year the corporation marketed component of its Florida constitution faculty portfolio for $242 million.
Terreno Realty pays $73M for two Countyline Corporate Park warehouses in Hialeah
In February, San Francisco-dependent Terreno Realty picked up two completely leased warehouses at Countyline Corporate Park for $73.2 million. The seller was Miami-dependent Florida East Coastline Industries, an affiliate of New York Metropolis-dependent Fortress Investment Team.
The buildings full 407,000 square feet and sit on 19.8 acres at 4281 and 4341 West 108th Avenue in Hialeah.
Terreno Realty purchases, owns and manages industrial actual estate in six significant coastal U.S. markets, according to its web-site. Fortress Investment decision Team manages $45.7 billion of belongings as of September, according to its internet site. This deal equates to $180 for each square foot.
Platform Ventures buys Medley cold storage facility for $66M
North Sioux City, S.D.-based Vertical Chilly Storage paid $66 million for a 274,191-square-foot freezer facility in Medley in May possibly. The vendor was Camden, N.J.-based mostly United States Cold Storage.
Vertical Cold Storage is affiliated with Kansas City-dependent Platform Ventures, an expense provider. The deal equates to $241 per square foot.
The seller bought the 10-acre web-site for $3.7 million in 2003 and done 189,195 sq. toes of freezer warehouse house a calendar year later on. The organization additional another 85,188 sq. feet in 2019, information show.
