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Miami Airport West Industrial Property Sells For Large Gain After Three Years

7200 Northwest 25th Street Miami

Webster Business Park, an industrial property just west of Miami International Airport, sold for $25 million.

COFE CIX Webster Park LLC, an affiliate of Miami-based COFE Properties, sold the 178,521 square feet of industrial buildings at 7200 N.W. 25th Street to MP Webster Park LLC, an affiliate of Boston-based AEW Capital Management.

Aerial of the park at 7200 Northwest 25th Street
Miami

The price equated to $140 per square foot.

Webster Business Park was developed on the 7.8-acre site in 1972. It consists of four buildings. The property last sold for $16.6 million in 2016. The industrial occupancy rate has climbed in Miami-Dade County and rents have increased, especially near the airport and its busy cargo operation.

 

Source:  SFBJ

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Interworld Freight Line Inks 63,300-SF Lease Deal At Flagler Station

International logistics and distribution company Interworld Freight Line just secured a 63,300-square-foot lease at Flagler Station in Medley.

The seven-year lease at 9705 Northwest 108th Avenue is valued at $3.5 million, according to a press release.

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