MIAMI—Investor interest in South Florida industrial spaces is intensifying. The ink is drying on transactions larger and small. The two latest examples are a 271,000-square-foot warehouse sale in North Dade and a 41,000-square-foot industrial building in the Medley submarket.
“Strong fundamentals for Miami-Dade’s industrial market are making it very desirable for both institutional investors and end users to invest, as these latest transactions indicate,” says JLL managing director Steve Medwin. “We expect investor appetite to remain strong for quality industrial assets in the region over the coming months.”
Medwin, Nick Wigoda, and industrial associate Matt Maciag, represented the buyer Marjam Supply Company, a building materials distributor, in the North Dade property located at 18000 State Road 9. Marjam is relocating from another facility in North Dade and expanding from the 65,000 square feet to 271,000 square feet.
Brian Smith and Audley Bosch of Cushman & Wakefield represented the seller, Prologis. Prologis has over 11 million square feet of industrial space in South Florida.
In the second transaction, JLL’s industrial team represented Prologis in the sale of a fully-leased industrial property inside the Pan American North Business Park at 11200 Northwest 138th Street. An institutional investor purchased the industrial building. The JLL brokers sold this building to Prologis two years ago.