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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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TA Realty Pays $92M For Industrial Portfolio In Hialeah Gardens And Medley

Hialeah’s industrial market is showing no signs of a slowdown.

TA Realty just paid $92.25 million for a ten-parcel industrial portfolio in Medley and Hialeah Gardens. Miami-based commercial real estate firm Cofe Properties sold the nearly 932,500-square-foot portfolio.

Property records show Cofe bought the assemblage in 2013 for $48.3 million.

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