Gramercy Property Trust buys Medley industrial portfolio

8100 Northwest 74th Street
8100 Northwest 74th Street

Companies tied to New York-based Gramercy Property Trust picked up nearly 30 acres of industrial property in Medley for more than $17 million.

The Gramercy companies acquired four properties from Ruben Artiles in two transactions recorded on Friday, according to Miami-Dade County records. The largest individual property involved totals 620,294 square feet at 8100 Northwest 74th Street. Small industrial buildings are located on three of the four parcels.

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No financing was recorded.

Artiles owned three of the properties for 23 years before last week’s sale. The fourth was acquired by an Artiles-managed company in 1971. He paid about $3 million combined for the properties. — Eric Kalis