TA Realty Pays $92M For Industrial Portfolio In Hialeah Gardens And Medley

TA Realty just paid $92.25 million for a ten-parcel industrial portfolio in Medley and Hialeah Gardens. Miami-based commercial real estate firm Cofe Properties sold the nearly 932,500-square-foot portfolio.

Property records show Cofe bought the assemblage in 2013 for $48.3 million.

South Florida’s industrial market remains strong, and Hialeah is among the top-performing submarkets. According to a recent CBREreport, about half of all industrial transactions in Miami-Dade County in the second quarter took place in Hialeah.

Cofe and TA Realty have bought and sold from each other before. In January, TA Realty sold 41 warehouses totaling roughly 376,000 square feet for $32.5 million to Cofe Properties. More recently, Cofe bought a six-building office park in Kendall for $34.75 million from TA Realty.

Earlier this year, Duke Realty paid $180 million for Flagler Global Logistics’ Countyline Corporate Park, an 8 million-square-foot industrial park on the northwest corner of Northwest 154th Street and and Northwest 97th Avenue, marking one of the biggest industrial sales in Miami-Dade.

 

Source: The Real Deal

 

 

Lee & Associates has been observing and sharing information on trends in the Industrial Real Estate sector across the US since 1979. Lee & Associates is a commercial real estate brokerage sales, leasing and management firm. Established in 1979, Lee & Associates has grown its service platform to include over 75 offices in the United States and Canada. Lee & Associates is the largest agent owned commercial real estate brokerage where agents get the greatest return for their efforts and hence are more committed and better enabled to provide superior results for their customers.  For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link, our company blog.