The Bristol Group sold a Miami Gardens warehouse leased to Amazon for $24 million.
The San Francisco-based company sold the 205,548-square-foot-industrial property at 15600 Northwest 15 Avenue to an affiliate of Dallas-baed Dalfen Industrial for $116 per square foot, records show. Dalfen secured a $16 million loan from Bank of America to finance the acquisition.
E-commerce giant Amazon signed a five-year and two-month lease at the property, beginning in August 2016, according to records.
The property was built in 1967. It last sold for $4.4 million in 2002.
Industrial properties are hot commodities in South Florida. In Miami-Dade County, a total of 6.4 million square feet of industrial space was sold in 2018, an increase of about 2 million square feet over the previous year. The combined dollar value of all industrial sales in 2018 totaled $621 million, roughly $203 million more than the previous year.
Amazon announced on Thursday it would not open a second headquarters in Long Island City amid a backlash from local politicians.