Blackstone buys 9-acre industrial site in Medley

The site in the industrial area was purchased for $818K per acre

TRD MIAMI /
Jul.July 09, 2019 10:30 AM
Stephen A. Schwarzman and 8482 Northwest 96th Street (Credit: Google Maps)

Stephen A. Schwarzman and 8482 Northwest 96th Street (Credit: Google Maps)

A Blackstone affiliate bought two industrial vacant lots in Medley for $7.2 million.

Link Industrial Properties, an affiliate of Blackstone, bought the 8.8-acre site for $818,181 per acre. The seller is Medley Auto Parts, which is managed by Jorge Seoane of Hialeah, Ana Maria Seoane-Garcia of Davie, and Yolanda Orihuela Cruz and Renier Cruz of Coral Gables.

The properties don’t have an exact address but sit adjacent to 9700 Northwest South River Drive, a used car parts facility.

Link Industrial Properties was part of industrial real estate investment trust Gramercy Property Trust, which was acquired by the Blackstone Group in 2018 for $7.6 billion.

At the time, Gramercy owned 81 million square feet of real estate, mostly single-tenant industrial buildings. It had holdings across the country, including in New York, New Jersey, South Florida, Los Angeles and Chicago.

Medley is west of Hialeah and sits on the far western edge Miami-Dade County. The town of Medley has a heavy concentration of industrial properties and warehouses.

Just last week, Honeywell International sold an industrial building in Medley for $5.2 million to a company tied to South Florida real estate investor Leo Ghitis.


Related Articles

arrow_forward_ios
Jon Gray, 16100 Northwest 49 Avenue and 16200 Northwest 49 Avenue, Miami Gardens (Credit: Google Maps)

Blackstone snags eight industrial properties in Miami-Dade

Blackstone snags eight industrial properties in Miami-Dade
Shlomo Khoudari, Managing Partner at Elion Partners, and Stephen A. Schwarzman, CEO of the Blackstone Group, with 1800-1880 North Commerce Parkway, Weston, and 3400-3450 Park Central Boulevard, Pompano Beach (Credit: Google Maps)

Blackstone pays $46M for Broward industrial properties

Blackstone pays $46M for Broward industrial properties
Jason Tenenbaum of Prologis, Stephanie Rodriguez of Duke Realty and Ross Giglio of Terrano Realty

Industrial development, rents and leasing stable in South Florida, but uncertainty remains: panel

Industrial development, rents and leasing stable in South Florida, but uncertainty remains: panel
(iStock)

SoFla industrial market’s Q2 is strongest quarter in three years

SoFla industrial market’s Q2 is strongest quarter in three years
Ed Easton and 501 103rd Avenue North (Google Maps)

Easton Group sells Royal Palm Beach warehouse for $16M

Easton Group sells Royal Palm Beach warehouse for $16M
Sean Dalfen and 3774 Interstate Park Road North

Dalfen Industrial snags Serta Simmons building in West Palm for $25M

Dalfen Industrial snags Serta Simmons building in West Palm for $25M
Ivy Realty CEO Anthony P. DiTommaso, Jr., and 650 Northeast 185th Street (Credit: Google Maps)

Ivy Realty snags industrial freezer in Miami for $13M

Ivy Realty snags industrial freezer in Miami for $13M
Foundry Commercial

Foundry Commercial scores construction loan on Hialeah Gardens industrial complex

Foundry Commercial scores construction loan on Hialeah Gardens industrial complex
arrow_forward_ios

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

Loading...