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Centro Logistics Industrial Development Site Purchased For $25 Million

CBRE has arranged the $25-million sale of Centro Logistics, a 20.3-acre infill industrial development site in Miami.

The site, located in the heart of the Gratigny industrial micromarket, was sold to Panattoni Development Company, a leading privately held real estate development company with more than 340 million square feet of industrial, office, and build-to-suit projects delivered over the span of 33 years of business.

The seller, ZSF/WD Opa Locka, LLC, was exclusively represented by the CBRE Capital Markets team of Christian Lee, Vice Chairman; Chris Riley, Vice Chairman; and José Lobón, Executive Vice President.  The seller was advised internally by Zurich Alternative Asset Management, LLC (ZAAM). The ZAAM team was led by Roy Rosenbaum, Director of Acquisitions, and Sean Bannon, Managing Director and Head of U.S. Real Estate.

“Located between two signaled intersections along the northern boundary of the Gratigny Expressway, the site offers excellent transportation dynamics, with Interstate 95 and Interstate 75 access just three miles and five miles from the property, respectively.” said Jose Lobon, Executive Vice President at CBRE.

 

“Testament to the coveted location within the widely-recognized Gratigny industrial micro-market, interest was drawn from the leading industrial developers in the nation” added Christian Lee, Vice Chairman at CBRE.