Duke Realty drops $180M at Hialeah industrial park

Purchase totals 1.2M sf, including new HQ of KLX Aerospace Solutions

TRD MIAMI /
Jun.June 27, 2018 06:00 PM

Countyline Corporate Park and James B. Connor

Hialeah’s industrial market just got hotter.

Duke Realty just dropped $180 million at Flagler Global Logistics’ 8 million-square-foot industrial park on the northwest corner of Northwest 154th Street and and Northwest 97th Avenue.

Countyline Corporate Park is being developed by Flagler Global Logistics, a subsidiary of Florida East Coast Industries. Flagler assembled the 95-acre site in 2005 for a combined $38.3 million. It’s near the border of Miami-Dade and Broward counties.

The first phase totals about nine buildings, including one under construction. Property records show Duke Realty bought the first three buildings as part of the first phase. It’s also under contract to buy a fourth building totaling 208,000 square feet, records show. In all, Duke Realty will purchase buildings totaling 1.2 million square feet.

The largest warehouse spans about 500,000 square feet. It is the future site of aircraft services company KLX Aerospace Solutions’ new headquarters. Other tenants include CGI Windows, which inked a roughly 325,000-square-foot lease at the park.

Duke Realty, a major owner and developer of industrial properties in the United States, has been active in South Florida. In 2014, the company sold a 465,600-square-foot business park in Plantation for $128 million. Last year, it paid $55 million for a 17.5-acre industrial project in Fort Lauderdale and invested nearly $80 million in three new warehouses in Hialeah Gardens.

Hialeah is among the top industrial submarkets in Miami-Dade. Commercial sales activity totaled $217.1 million in 2017, up from $83.6 million in 2016. Codina Partners, led by developer Armando Codina, is also building a 1.5 million-square-foot industrial park in Hialeah called Beacon Logistics Park.

ASB Real Estate Investments also recently bought a warehouse in Hialeah for $24.3 million.


Related Articles

arrow_forward_ios
1000 Southeast 8th Street, Andrew Gurewitsch and Harry Weisman and Barry Katz

Duty Free Americas owner will have to pay taxes on this sale

Daily Digest Miami

Lawsuit accuses Douglas Elliman’s Jay Parker of backing out of real estate commission agreement, Elysee Investments picks up Fort Lauderdale retail center: Daily digest

Camilo Niño and Pasteur Medical Center

Linkpoint Properties nabs Pasteur Medical Center in Hialeah for $5M

RREEF Property Trust’s CEO W. Todd Henderson and Centergate at Gratigny

RREEF America buys Hialeah industrial property for $178M

From left: Alejandro Arias, Keren Marti, Avra Jain, Carolina Herrera, Luis Gonzalez, and Melissa Rose (Credit: Brett Hufziger Photography, Google Maps)

New frontier? Developers look to Hialeah

BBX Capital’s Alan Levan and Altis at Bonterra

BBX Capital, Altman sell Altis at Bonterra in Hialeah for $90M

Rendering of Pura Vida Hialeah with Michael Wohl, Stephen A. Blumenthal, Victor Brown, and David Brown

Developers score loan for mixed-use project in Hialeah

State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center

arrow_forward_ios