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Blackstone Affiliate Spins Off Opa-Locka Business Park for $160M
Blackstone and its Link Logistics industrial arm, sold the 505,436 square feet Ironwood Commerce in Opa-Locka for $160 million. The industrial space, made up of four warehouses at 12700 N.W. 42nd Ave. was bought by TA Realty. The property is 65% leased to six tenants.
CBRE’s José Lobon, Frank Fallon, Trey Barry, Royce Rose, Gabriel Braun and Daniel Sarmiento represented the seller in the deal. The price equated to $317 per square foot.
Ironwood Commerce Center was built on the 28.3-acre site just off the Gratigny Parkway in 2022. This is the first time it has sold.
This deal follows Blackstone selling 26 warehouses across South Florida for $331.3 million in late November and four industrial properties for $205.5 million in the first week of December.
