Cushman & Wakefield has arranged the sale of two cold storage/warehouse distribution facilities totaling 315,000 square feet located in Miami. The final sale price was $74 million.

The warehouse/distribution facilities were purpose built for cold storage users and include a substantial amount of freezer space and ample trailer parking for infill properties. The properties are along the Interstate 95 corridor between Miami’s and Fort Lauderdale’s seaports and airports.

Cushman & Wakefield represented the sellers in the transaction. Ivy Realty sold the 235,000-square-foot building located at 18770 NE 6th Avenue, and a joint venture between Ivy Realty and institutional investors advised by J.P. Morgan Global Alternatives sold the 80,000-square-foot building located at 650 NE 185th Street.

Cushman & Wakefield also secured $55.7 million in acquisition financing through AEW Capital Management on behalf of the buyer, a joint venture between Banner Property Group and an institutional investor.