TIAA sells Weston warehouse for $33M

Denver-based Black Creek Group paid $143 psf for the facility

Miami /
Dec.December 12, 2019 09:45 AM
2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

Teachers Insurance Annuity Association sold a warehouse and distribution center in Weston for $32.4 million.

The New York-based asset manager sold the warehouse at 2965 West Corporate Lakes Boulevard just off I-75 to Denver-based Black Creek Group. The distribution center totals 225,335, equating to a price of $143 per square foot.

TIAA had purchased the facility from RREEF in a portfolio deal with other properties in 2011 for $84.6 million. The building was constructed in 2000. It has 30,000 square feet of office space, 30-foot clear heights, 32 dock-high doors, two oversized drive-in ramps and 296 parking spaces.

Postal Center International, a print, mail and marketing solutions provider, signed a multi-year lease last year to use most of the building as its corporate headquarters.

Since the 1990s, Black Creek has owned and operated about 1,400 office, industrial, retail and multifamily properties across North America, according to its website. It has developed more than $3 billion worth of properties across North America.


Related Articles

arrow_forward_ios
Jay Phillip Parker with 1647 Bonaventure Boulevard and 1675 Market Street (Google Maps, Douglas Elliman)
Douglas Elliman expands into Weston, opens two offices
Douglas Elliman expands into Weston, opens two offices
Confidante Miami Beach
South Florida’s biggest hotel sales of 2022
South Florida’s biggest hotel sales of 2022
From left: TPG's David Bonderman, Value Store It's Carlos Diaz, and TPG's Jim Coulter with 2400 Glades Circle
TPG, Value Store It pay $19M for Weston self-storage facility
TPG, Value Store It pay $19M for Weston self-storage facility
Amir Korangy, Michael Shvo and Jeff Greene
Michael Shvo and Jeff Greene talk distress, opportunities in office
Michael Shvo and Jeff Greene talk distress, opportunities in office
Luis Robert and 3030 Meadow Lane (Getty, Google Maps)
Chicago White Sox player pays record $12M for Weston mansion
Chicago White Sox player pays record $12M for Weston mansion
From left: Bridge Industrial’s Steve Poulos and Kevin Carroll along with 16175 Northwest 49th Avenue and 16175 Northwest 49th Avenue in Miami Gardens (Bridge Industrial, Getty)
Bridge bets on Miami Gardens’ Palmetto Lakes Industrial Park
Bridge bets on Miami Gardens’ Palmetto Lakes Industrial Park
Terranova’s Stephen Bittel with 93 Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Ytech's Yamal Yidios with 1500 Brickell Avenue
Ytech buys historic Brickell château, plans restoration
Ytech buys historic Brickell château, plans restoration
arrow_forward_ios

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

Loading...