Fund sells Medley warehouses for $17M

Center last sold for $11.25M in 2005

TRD MIAMI /
Sep.September 08, 2015 10:30 AM

The Miami Industrial Trade Center, a four-building warehouse complex in Medley, was just sold by a Boston-based asset management company for $17.25 million.

TA Realty, a real estate investment advisor with roughly 91 million square feet of commercial space under its control, was the seller for this deal, according to Miami-Dade County records.

The firm paid $11.25 million for the warehouses at 8455 Northwest 74th Street in 2005. They were built in 1996 on 7.3 acres of land and have a total of 154,560 square feet of industrial space.

The deal at that time worked out to roughly $73 per square foot. Now, TA has sold the warehouses for approximately $112 per square foot. The buyer is an affiliate of Terreno Realty, an industrial real estate firm that’s headquartered in San Francisco.

Terreno owns 141 buildings totaling 10.6 million square feet of industrial space across the United States, according to its website.

Also in Medley, Chicago-based real estate investment trust Ridge Property Trust paid $5.3 million for vacant land in July to develop the property into a 180,000-square-foot spec distribution warehouse.


Related Articles

arrow_forward_ios
Alejandro Velez, CEO of Midtown and 9315 Northwest 112 Avenue, Medley (Credit: Google Maps)

Honeywell warehouse in Medley sells for $8M

Honeywell warehouse in Medley sells for $8M
Brian Kingston Brookfield Property Partners CEO 10800 Northwest 92 Terrace (Credit: Google Maps)

Brookfield pays $27M for Medley warehouses

Brookfield pays $27M for Medley warehouses
9501 Northwest 106 Street and Apex Capital Realty’s Freddy Diaz (Credit: LoopNet and Apex Capital Realty)

Industrial site in Medley trades for $7M

Industrial site in Medley trades for $7M
Blackstone CEO Stephen A. Schwarzman and 5120 Northwest 165 Street

Blackstone buys two Miami Gardens industrial properties for $14M

Blackstone buys two Miami Gardens industrial properties for $14M
Stephen A. Schwarzman and 8482 Northwest 96th Street (Credit: Google Maps)

Blackstone buys 9-acre industrial site in Medley

Blackstone buys 9-acre industrial site in Medley
Darius Adamczyk and 9315 Northwest 112 Avenue

Honeywell sells Medley industrial building to Leo Ghitis

Honeywell sells Medley industrial building to Leo Ghitis
2800 Ponce de Leon Boulevard; from top: Donna Abood, Joe Abood and Peyton Dowd (Credit: Google Maps)

TA Realty pays $60M for Regions Bank building in Coral Gables

TA Realty pays $60M for Regions Bank building in Coral Gables
Lease roundup: Quantachrome renews HQ in Boynton Beach and more

Lease roundup: Quantachrome renews HQ in Boynton Beach and more

Lease roundup: Quantachrome renews HQ in Boynton Beach and more
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...