Investment giant Blackstone paid a combined $45.9 million to Elion Partners for five warehouse properties in Broward County. However, a source with knowledge of the deal said the transactions included eight properties in Miami-Dade. When considering all properties in Miami-Dade and Broward counties, the total price was $93.5 million.
The deal shows there remains strong demand for industrial real estate in South Florida as occupancy rates are high. North Miami Beach-based Elion Partners acquired these warehouses in 2018 and 2019, and the new sale prices were significantly higher than the previous deals.
The Miami-Dade properties are:
- The 38,561-square-foot warehouse at 1730 W. 38th Place, Hialeah.
- The 33,472-square-foot warehouse at 5280 N.W. 165th St., Hialeah.
- The 59,135-square-foot warehouse at 2875 N.W. 77th Ave., Miami.
- The 32,759-square-foot warehouse at 16100 N.W. 49th Ave., Hialeah.
- The 64,430-square-foot warehouse at 16200 N.W. 49th Ave., Hialeah.
- The 48,777-square-foot warehouse at 16363 N.W. 49th Ave., Hialeah.
- The 24,884-square-foot warehouse at 11351 N.W. 36th Terrace, Doral.
- The 63,723-square-foot warehouse at 7425 N.W. 79th Ave., Medley.
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