Industrial properties in South Florida were in hot demand in 2018, with the top five industrial sales totaling $478 million, outperforming last year’s $401.5 million.
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.
TA Realty just sold three warehouses in Miami Gardens and near Hialeah for $21.35 million to RREEF Property Trust, an arm of Deutsche Bank asset management.
The industrial portfolio spans 290,000 square feet, meaning the deal breaks down to nearly $75 per square foot. Records show TA Realty spent a total of about $17.6 million acquiring the sites in 2007 and 2008 through an affiliate company, the Realty Associates Fund VIII.