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TA Realty Acquires 12-Building, Fully Leased Industrial Park in Medley
Boston, MA-based real estate investment firm TA Realty has purchased a 12-building industrial park totaling 1,060,740 square feet located in the Miami submarket of Medley, FL.
José Lobón, Trey Barry, Frank Fallon, Royce Rose and Devin White of CBRE represented seller, a global investment advisor, in the transaction.
The last-mile industrial park is fully occupied by 46 tenants across a range of industries including airlines and aviation, home design and improvement, third party logistics operators, and food distributors.
The property sits immediately off Okeechobee Road (U.S. 27), providing tenants access to three major highways (Palmetto Expressway/State Road 826, Interstate 75, and the Florida Turnpike/State Road 91), and the Miami International Airport.
According to a report from CBRE, warehouses around busy airports in land-constrained markets, like Miami, command higher rents than their market average. Airport-adjacent warehouses in Miami see a 24.6 percent premium over the average metro-area rent.
- ◦Sale/Acquisition
