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Ares Administration Actual Property has acquired Constructing 18 and Constructing 22, two industrial amenities beneath building inside Countyline Company Park in Hialeah, Fla., for a mixed $62 million, in keeping with Miami-Dade County information.
The 360,845-square-foot Constructing 18 traded for $37 million, whereas the 213,907-square-foot Constructing 22 modified arms for $25 million, public information present. JLL negotiated on behalf of the vendor, Flagler International Logistics, a subsidiary of Florida East Coast Industries LLC.
That is the newest deal involving Countyline Company Park parts. Within the final two years, Flagler has bought 5 of the campus’ warehouses to Terreno Realty; two different amenities, totally leased by Residence Depot, had been bought by CenterPoint Properties.
Ares Administration has been lively in different markets as properly. In January, the choice funding supervisor teamed up with Westmount Realty Capital for the recapitalization and acquisition of a 51-property industrial portfolio totaling 6.1 million sq. toes all through the Better Chicago space and the Milwaukee market.
Class A amenities north of Miami
Upon their respective completions, within the second quarter of 2023 and the second half of 2022, the 2 Class A industrial property might be a part of Countyline Company Park, an 8.5 million-square-foot, master-planned enterprise campus developed by Flagler. Constructing 18 is taking form as a build-to-suit chilly storage facility, whereas Constructing 22 is deliberate to have a rear-load configuration and 32-foot clear heights.
Situated on West 108th Road, the property might be lower than 3 miles west of Interstate 75, offering easy accessibility into Miami, Fort Myers, Tampa, Gainesville and different Florida cities. The Miami-Opa Locka Government Airport can even be some 9 miles east of the properties.
JLL Managing Director Luis Castillo, Senior Managing Director John Huguenard and Director Cody Brais led the Industrial Capital Markets Funding Gross sales and Advisory group that represented the vendor within the transaction.
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