Honeywell International sold an industrial building in Medley for $5.2 million to a company tied to South Florida real estate investor Leo Ghitis.
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.
Miami-Dade’s industrial market is still hot.
With low vacancy rates, lots of demand and a growing supply of new buildings, the industrial market seems to show no signs of slowing down, as South Florida becomes an increasingly attractive destination for commerce, according to a recent report by CBRE.