Florida East Coast Industries just sold a warehouse near Miami International Airport for $31.1 million to a subsidiary of JPMorgan Asset Management.
CBRE Group Inc. was appointed by institutional investors advised by J.P. Morgan Asset Management to manage the South Florida Logistics Center, a 1,091,217-square-foot, world-class industrial project located at 3200 NW 67th Avenue, adjacent to Miami International Airport.
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.