FORT LAUDERDALE, FL—Lakeview Industrial Park, a seven-building,210,350-square-foot industrial complex at 2201Stirling Road in Dania Beach, FL, has changed hands after 26 yearswith the same owner. Industrial Income Trustacquired the asset for $17.5 million, or $83 per square foot.

CBRE's Capital Markets Institutional Grouprepresented the seller, an affiliate of Morgan Stanley RealEstate Investing. The CBRE team representing the sellerincluded Christian Lee, ChrisRiley, Brian Budnick, and JoséAntonio Lobón.

“The South Florida industrial market continuesto draw strong investor interest with light distribution buildingssuch as Lakeview attracting serious interest from traditional bulkbuyers,” Lee says. “Additionally, the opportunity to purchase anin-fill location only two miles from Ft. Lauderdale InternationalAirport at a price significantly below replacement cost, made thisan attractive investment opportunity.”

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