A Miami industrial complex has changed hands for $38.5 million, The Real Deal has learned.
Westpointe Operating Co., managed by Des Moines, Iowa-based Principal Real Estate Investors, sold the 8901 Northwest 33rd Street property last Friday, according to Miami-Dade County records. The county recorded the transaction Monday.
Principal paid $19.5 million for the property in 2002.
LIT Industrial L.P. is the buyer. The buying company listed the mailing address of the Dallas office of major investment manager Clarion Partners in the deed.
No financing was recorded.
Built in 1999 on more than 16 acres, the complex totals more than 318,000 square feet. Tenants include produce company Freedom Fresh. — Eric Kalis