Florida East Coast Industries (FECI) sold a pair of new warehouses at Countyline Corporate Park in Hialeah for a combined $61 million. The buyer was Oak Brook, Illinois-based CenterPoint Properties, which has acquired 10 industrial properties in South Florida since 2017.
CenterPoint Properties has announced the acquisition of a 17.14-acre land site in the Miami-Dade County submarket.
Located at 3200 NW 67th Avenue in Miami, this site is currently 100% leased to a leading e-commerce retailer.
Last year, Miami added nearly 10,000 jobs in logistics alone — more than double the number added in any previous year and almost half the number created across the state according to Transwestern’s most recent market reports.
Miami’s industrial vacancy rate has been below 5% since 2015, and even with new product having come online, it is still just 4.5%, with activity strongest in North Miami Beach, the Miami Airport area and Medley. The last quarter of 2018 saw the industrial market absorb nearly 1.2M SF, the strongest single-quarter performance in four years.