The Real Deal Miami

Graham Companies buys Miami Lakes manufacturing campus for $14.3 million

June 26, 2012 04:30PM

The Miami Lakes Research & Industrial Park

The Miami Lakes Research & Industrial Park has sold to the Graham Companies for $14.3 million, or $49 per square foot, according to CBRE, which represented MCP EWE in the transaction. The bio-medical device company HeartWare currently occupies 45.1 percent of the eight-building, 290,529-square-foot campus, which is located at 14400–14560 Northwest 60th Avenue. A total of 130,952 square feet in four buildings remains vacant. “Strong cash flow from the HeartWare lease helped offset vacancy concerns. The Graham Companies’ inherent ties to the asset and experience with life sciences companies made them the most logical buyer,” said Miguel Alcivar of CBRE’s Private Capital Group. The seller was represented by Alcivar, Christian Lee, CBRE vice chairman, and Scott O’Donnell, CBRE senior vice president. — Christopher Cameron