Foundry Commercial broke ground on Midpointe Miami Logistics Park in Hialeah Gardens thanks to a $26.32 million construction loan.
Wells Fargo Bank awarded the mortgage to Foundry Gallop Miami I LLC, an affiliate of the Orlando-based developer. It covers the 18-acre site at 14501 N.W. 109th Ave.
Blackstone bought a huge industrial portfolio next to Miami International Airport for $56 million.
The private equity giant bought the three warehouses totaling 367,848 square feet at 3208 Northwest 72nd Avenue and 3108 Northwest 72nd Avenue for $152 per square foot, records show. Airport Trade Center, which lists Haim Yehezkel as one of its principals, is the seller. Yehezkel leads the real estate firm Elysee Investments in Miami Beach. The warehouses were built in 1972 and last traded for $13 million in 1999.
Continue reading
Despite signs that South Florida’s industrial market may be cooling after years of rapid growth, a new report shows that demand remained strong in the second quarter.
