(Read more on the industrial market.)

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MIAMI-NP 82nd Ave Miami Industrial LLC has acquired a 150,000-sfindustrial property at 2323 NW 82nd Ave. for $19.47 million. Theproperty is located in the Airport West submarket of Miami andcontains office and warehouse space. NP 82nd Ave Miami IndustrialLLC is an entity associated and controlled by New York-basedBlackRock, Inc.

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"This sale is representative of the market's depth for coreacquisitions that are well positioned," says Capital CommercialGroup principal Ernesto Casal, who brokered the deal. "The capitalmarkets remain actively interested in South Florida and are willingto pay a premium for buildings in excellent locations with greattenants."

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The principals of Enbee Capital LLC, the seller, are associatedwith Stockton, CA-based AeroTurbine, Inc., an aftermarketcommercial engine and parts company, which was sold toNetherlands-based AerCap Group in 2006. AeroTurbine will remain thebuilding's sole tenant.

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According to a CB Richard Ellis market report for Q3, Miami'sindustrial market is continuing to show the strength it hasdemonstrated over the past several years. Overall, the222-million-sf market has a 4.8% vacancy rate with 445,849 sf ofpositive absorption year-to-date and average asking rents of $8.52per sf. In the Miami Airport submarket, the vacancy rate is 5.7%with 581,665 sf of positive absorption year-to-date and averageasking rental rates of $10.30 per sf.

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"The fundamentals of the industrial market are still strong inSouth Florida, and Miami's diversity as a domestic andinternational hub provides for great appeal throughout themarkets," Casal says.

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