The property is positioned on approximately 10 acres and hasdirect frontage and access to Interstate 95 via Andrews Avenue.Built in 1986 and renovated in 2000, the rail-served facility hasdock high and drive-in loading capabilities. The acquisition pricewas not disclosed, but sources put the price at between $10 millionand $11 million.

"This acquisition is a continuation of our strategy to acquirefunctional, well-located properties in high barrier-to-entrymarkets," says KTR senior vice president PJ Charlton, in a preparedstatement. "The property is fully leased on a long-term basis to atenant that has a substantial investment in the space and overallwe like the dynamics of the acquisition given the tenant demand inthe submarket and the true scarcity of remaining developable landsites along the Interstate 95 corridor in South Florida."

This is KTR's second sales-leaseback transaction completed inthe past few weeks. In December, the company acquired a 105,000-sfdistribution facility at 7450 Byron Dr. in Riviera Beach in asales-leaseback transaction with flooring products distributorSuncrest Supply Inc. That transaction closed at an estimated $11 to$12 million.