TA Realty buys back industrial property in Hialeah as part of $52M deal

Seller bought the properties for about $40M in 2017 and 2018

Miami /
Dec.December 30, 2020 01:30 PM
TA Realty Managing Partner James Buckingham and (clockwise from top left) 1604 West 31st Place, 2440 West 8th Court and 2500 West 84th Street (Google Maps)

TA Realty Managing Partner James Buckingham and (clockwise from top left) 1604 West 31st Place, 2440 West 8th Court and 2500 West 84th Street (Google Maps)

TA Realty bought back pieces of an industrial portfolio in Hialeah in a deal totaling $52 million.

Cofe Properties sold the assemblage of more than 40 parcels at and near 2500 West 84th Street, 1604 West 31st Place and 2440 West Eighth Court to the Boston-based real estate investment firm. TA Realty previously owned some of the parcels.

TA Realty paid $40.2 million for the latter two properties. Cofe acquired those from TA Realty in 2017 for $32.5 million. The West 31st Place property is part of the West Hialeah Industrial Center.

Cofe acquired the former, at 2500 West 84th Street, in 2018 for $7.3 million. TA Realty paid $11.8 million for the building in this latest acquisition.

An online listing shows space is available for lease at the 30,000-square-foot building, called the I-75 Business Park, for $13 per square foot a year. Tenants include Kalacatta Stone LLC and Transline, according to their websites.

The total acreage of the properties that just sold was not immediately clear.

In 2018, TA Realty paid Cofe more than $92 million for a 10-parcel, 932,500-square-foot industrial portfolio in Medley and Hialeah Gardens.

Also that year, Cofe Properties bought a six-building office park in Kendall for $34.8 million from TA Realty.

Miami-based Cofe is managed by Mario Fernandez and Eugenio Cosculluela Jr., records show.

In January, TA Realty bought a 340-unit apartment project in Fort Lauderdale’s Flagler Village for $112 million from a partnership between Morgan Group and JPMorgan, one of the largest multifamily deals of the year.

TA Realty, led by managing partners James O. Buckingham, Michael R. Haggerty and James P. Raisides, has offices in Palm Beach Gardens, Dallas, and Newport Beach, California.

In September, the company paid $65 million for a 70-unit luxury apartment complex in Venice, California.






    Related Articles

    arrow_forward_ios
    Edward Easton and rendering of Doral warehouse at 1500 Northwest 97th Avenue
    Easton Group scores $12M construction financing for Doral spec warehouse
    Easton Group scores $12M construction financing for Doral spec warehouse
    Alliance HP founders Richard Previdi and Clay Hamlin III with 7233 Seacrest Boulevard, Lake Worth (Alliance)
    Alliance spends $17M on Lake Worth industrial property
    Alliance spends $17M on Lake Worth industrial property
    3690 Northwest 62nd Street, Hialeah
    Grocery wholesaler buys Hialeah warehouse for record $12M
    Grocery wholesaler buys Hialeah warehouse for record $12M
    David Martin with a rendering of Natura Gardens
    Terra sells piece of northwest Miami-Dade dev site to Butters and Greystar, moves forward with apartment project
    Terra sells piece of northwest Miami-Dade dev site to Butters and Greystar, moves forward with apartment project
    The lot of space at Pompano Beach. (Broward County)
    Owner of Pompano industrial park to triple warehouse space to 100K sf
    Owner of Pompano industrial park to triple warehouse space to 100K sf
    USpharma CEO Dr. Manesh Dixit, Ivy Realty Co-CEOs Russell Warren and Anthony Ditommaso and 13900 Northwest 57th Court in Miami Lakes (Photos via First Time; Ivy Realty; Google Maps)
    Ivy Realty pays $18M for Miami Lakes industrial building
    Ivy Realty pays $18M for Miami Lakes industrial building
    2195 Northwest 103rd Street (Google Maps, iStock)
    Four South Florida gas stations sell for $15M
    Four South Florida gas stations sell for $15M
    Jeff Bezos (Getty, iStock)
    Amazon boosts South Florida’s industrial market in Q4 and 2020
    Amazon boosts South Florida’s industrial market in Q4 and 2020
    arrow_forward_ios

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

    Loading...