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Flagler Global Logistics Buys Nine-Acre Development Parcel Next To Its Countyline Corporate Park

About nine months after the firm sold three buildings inside the Countyline Corporate Park, Flagler Global Logistics has acquired a nearly nine-acre development parcel that borders its 500-acre park.

Commercial brokerage firm Cushman & Wakefield reports that Flagler Logistics acquired the 8.6-acre “Turnpike Transfer” development site from an entity named Turnpike Transfer, LLC for $6.7 million.

An aerial of the Turnpike Transfer site and adjoining properties.

Turnpike Transfer is situated at the southwest corner of NW 170th St. and NW 97th Ave. just south of the intersection of the Florida Turnpike and Interstate 75. The property offers more than 1,300 feet of linear frontage along NW 170th St. and an optimal rectangular configuration that is easily divisible into multiple parcels. Flexible zoning allows for a variety of uses including commercial, office, retail, industrial and hospitality, C&W states.

Miami-based Flagler Global Logistics, an integrated, third-party logistics provider and real estate developer, already owns 500 acres of land that borders the Turnpike Transfer site, where it is developing Countyline Corporate Park. The master-planned business park will offer 8 million square feet of Class A warehouses as well as office and industrial build-to-suits.

Last July, Flagler Global Logistics sold three buildings inside the Countyline Corporate Park to Duke Realty in a deal believed to be valued at approximately $180 million.

Cushman & Wakefield’s Wayne Ramoski and Gian Rodriguez, with the firm’s South Florida Industrial Team, worked with capital markets specialist Miguel Alcivar in representing the seller, Turnpike Transfer, LLC.

“The Turnpike Transfer site is situated in a thriving residential and business locale, and benefits from its central location at the intersection of the Florida Turnpike and I–75,” says Ramoski. “Further, with its versatile zoning and the proposed roadway interchanges that will serve the area, this site offers endless development opportunities.”

Turnpike Transfer is located in the midst of several large-scale development projects, including Triple Five Group’s planned American Dream Mall and a large commercial site owned by Graham Companies. The $4-billion American Dream Mall is slated to deliver 5 million square feet of retail, dining, entertainment, hotel and leisure venues, making it the largest mall in the country.

 

Source: GlobeSt.

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