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The Real Deal Miami

Aventura Industrial Center sells for $18.7 million

July 26, 2012 01:30PM

Aventura Industrial Center has sold for $18.7 million, according to CBRE Capital Markets, which arranged the deal on behalf of Principal Real Estate Investors. The two-building industrial complex is located at 555 NE 185th Street and 320 NE 187th Street in Miami. The 302,825-square-foot complex reached 100 percent occupancy in 2011. “The sale transaction is further evidence of the continued strength and desirability of the Miami-Dade County industrial market,” said Christian Lee, vice chairman with CBRE. “The sale also supports the sustained appetite of investors for industrial property outside the leading Doral and Medley submarkets.” — Alexander Britell