Duke Realty pays $34M to add to its Hialeah warehouse portfolio

Duke bought its fourth building from FECI at Countyline Corporate Park

TRD MIAMI /
Jan.January 02, 2019 12:30 PM

Duke Realty CEO James Connor, and Countyline Corporate Park (Credit: iStock)

Duke Realty just paid $34.4 to Florida East Coast Industries to buy another warehouse at one of Miami-Dade County’s largest industrial parks.

Indianapolis-based Duke Realty bought the 208,000-square-foot facility at Countyline Corporate Park at 3840 West 104th Street in Hialeah for $165 per square foot, property records show. In July, Duke bought three other warehouses at the industrial park for $180 million, where it also signed a contract to purchase the fourth building.

The project, which began construction in 2016, will total more than 8 million square feet.

FECI, the parent company of the passenger rail service Brightline, assembled the 95-acre site in 2005 for a combined $38.3 million.

The park’s largest tenant is KLX Aerospace Solutions, which is using one of the buildings as its headquarters. Other tenants include CGI Windows, which has a 325,000-square-foot lease at the park.

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, according to Real Capital Analytics.

Duke Realty develops industrial properties across the United States and has been active in South Florida. In 2017, 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.


Related Articles

arrow_forward_ios
Armando Codina and his daughter, Ana-Marie Codina Barlick and Beacon Logistics Park

Biggest private corporation in US inks lease at Beacon Logistics Park

Prologis CEO Hamid Moghadam

Prologis buys 8 acres of land near Sweetwater

9501 Northwest 106 Street and Apex Capital Realty’s Freddy Diaz (Credit: LoopNet and Apex Capital Realty)

Industrial site in Medley trades for $7M

Brookfield Asset Management CEO Bruce Flatt and 700 Banyan Trail (Credit: Google Maps)

Brookfield pays $32M for Boca Raton industrial building

Hard Rock Stadium (Credit: Getty Images, iStock)

Why Super Bowl LIV could spark interest in Miami Gardens real estate

Bridge Point Powerline Road industrial property

South Florida industrial market continues to rally in Q4

Jack Owoc and a South Florida Distribution Center Building (Credit: Core5)

Bang: Energy drink company drops $40M on warehouse

11300 Northwest 25 Street and Telefonica CEO José María Álvarez-Pallete López (Credit: Google Maps) 

Telefonica sold its Doral data center for $44M

arrow_forward_ios
Loading...