Industrial site in Medley trades for $7M

It sold for $867K per acre

TRD MIAMI /
Feb.February 10, 2020 10:32 AM
9501 Northwest 106 Street and Apex Capital Realty’s Freddy Diaz (Credit: LoopNet and Apex Capital Realty)

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

A vacant industrial site in Medley sold for $6.5 million, as investors scramble to find industrial sites in South Florida to build new warehouses.

Medley Enterprises, which is led by Joseph M. Jackson, sold the 7.5-acre property at 9501 Northwest 106th Street for $867,000 per acre. SWS Investments LLC, which is managed by Juan C. Alvarez, purchased the property.

Apex Capital Realty’s Freddy Diaz brokered the deal.

The vacant property sits next to the massive Flagler Station industrial development, a three-phase project developed by Florida East Coast Industries subsidiary Flagler Global Logistics.

Institutional giants like Blackstone and Brookfield Property Partners are increasingly buying up industrial properties in South Florida due to the rise of e-commerce. This push has caused industrial land prices to skyrocket as available land becomes more scarce.

In Miami-Dade County, industrial completions reached an all-time high in 2019, according to a recent report by Avison Young. Over 5.6 million square feet of industrial product was added to the market, growing local inventory by nearly 3 percent.


Related Articles

arrow_forward_ios
5900 Northwest 176th Street (Credit: Google Maps)

Mac Papers inks deal, sells warehouse near MIA for $15M

CenterPoint Properties CEO Bob Chapman and South Florida Logistics Center

CenterPoint buys an industrial property near MIA for $30M

A rendering of Bridge Point Commerce Center and Kevin Carroll, Partner, Southeast Region at Bridge Development Partners (Credit: CBRE)

Bridge Point Commerce Center inks lease with Caribbean grocery distributor

Prologis CEO Hamid Moghadam

Prologis buys 8 acres of land near Sweetwater

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

arrow_forward_ios
Loading...