Florida East Coast Industries just sold a warehouse near Miami International Airport for $31.1 million to a subsidiary of JPMorgan Asset Management.
An industrial market boom swept through South Florida in 2016.
Demand was strong for warehouse properties from Miami-Dade County through Palm Beach County, with buyers like Blackstone Group, Invesco Advisors, Clarion Partners and J.P.Morgan Asset Management getting into the fray.
Here are the top five sales in the tri-county region, priced from nearly $250 million to $50 million, based on CoStar Group data.
Florida East Coast Industries (FECI) and its Flagler Global Logistics subsidiary sold all the 200-acre South Florida Logistics Center near Miami International Airport to a group of pension funds.
The five completed industrial buildings, including one leased to Amazon.com for distribution, for a combined 867,343 square feet traded in separate transactions for $209.15 million. County records show that FECI signed agreements to sell the additional four building sites to the same group once construction has been completed.