MIAMI-The industrial market in Miami-Dade County is picking up, says Eric Swanson, executive vice president at Flagler based in Coral Gables. One indication of the upswing is a report in the July 21st issue of the online newsletter Real Estate Alert, that TA Associates Realty, which owns the 881,000 square foot Palmetto Distribution Center in west Miami-Dade, has a contract to sell the property to AMB Property for $67 million.  The five-building complex, which is about five miles from Miami International Airport, was built from 1992 through 1997 and has an occupancy rate of 95%.

The cap rate on the AMB deal is just under 6%, which is very attractive, says Swanson. There has been lots of interest in this property, which is about to trade at $75 per square foot, he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.