The Real Deal Miami

TA Realty picks up warehouse in Hollywood

The price breaks down to about $139 psf
By Amanda Rabines | October 09, 2017 03:30PM

2800 Southwest 42nd Street

A company tied to TA Realty just picked up a food distribution center in Hollywood for $21 million.

Principal Global Investors, an Iowa-based company that has business interests in everything from insurance to securities, sold the 151,460-square-foot warehouse at 2800 Southwest 42nd Street to TA affiliate FHF 1 Port 95 LLC, records show. The price breaks down to about $139 per square foot.

CBRE’s Christian Lee, Chris Riley and José Lobón represented the seller. The warehouse was 100 percent leased to Great Health Works at the time of sale, according to press release.

The warehouse is was occupied by local food distributing company Prime Line Distributors. The company operates throughout the state of Florida and exports products to the Caribbean and Latin America, according to its website.

Built in 2000, the warehouse is within the Port 95 Commerce Center, a 230,036-square-foot commercial park. It sits on an 8.7-acre lot. A spokesperson for TA Realty was not immediately available for comment.

TA Realty, an investment manager headquartered in Boston, has been active on the acquisition side of real estate in South Florida. Last month, one of its affiliates paid $96.1 million for One Park Square, a Class A office building next to CityPlace Doral, marking one of the most expensive office sales to close in Doral. In March, it picked up a new distribution center in Davie for $22 million.