Four Miami-Dade Industrial Buildings Trade As Part Of $854M Portfolio Deal

TA Realty sold four industrial buildings in Miami-Dade County to Brookfield Property Group for $60.8 million as part of an $854.5 million national portfolio deal.

Boston-based TA Realty announced on April 4 that its the Realty Associates Fund IX sold the 45 properties to real estate funds managed by New York-based Brookfield Property Group. They combined for 8.6 million square feet of industrial and office space in 12 states. JLL represented TA Realty in the deal.

The largest local part of this deal was the $28.58 million sale of 8841 N.W. 23rd Street and 2080 N.W. 89th Place in Doral to BPREP Americas Gateway 1&2 LLC. The buildings measure 173,871 and 85,091 square feet and were built in 1980 and 1981, respectively. They last traded for $19 million in 2011.

BPREP Palmetto Airport paid $19.58 million for the 180,810-square-foot building at 6100 N.W. 74th Ave. It was built in 1983 and last sold for $10.35 million in 2011.

Finally, BPREP Medley Palms acquired the 110,544-square-foot building at 10302 N.W. South River Drive in Medley for $12.61 million. It was built in 1995 and last traded for $5 million in 2011.

 

Source: SFBJ

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