TA Realty dropped $160 million for a warehouse complex in Opa-locka, marking the third biggest industrial deal in South Florida this year.
Boston-based TA Realty bought the Ironwood Commerce Center 12700 Northwest 42nd Avenue from New York-based Link Logistics, according to records and real estate database Vizzda.
It’s the latest sale by Blackstone subsidiary Link Logistics, which unloaded major South Florida industrial sites this year.
José Lobon and Frank Fallon were part of the CBRE team that represented the seller.
The 510,000-square-foot Ironwood consists of four one-story buildings completed on a 28.3-acre site in 2022, Vizzda records show.
Tenants at the complex include Deep Impact Custom Boats, logistics services provider Noamex and California Closets.
Link Logistics, led by CEO Luke Petherbridge, has been a major player in South Florida’s market, selling this year’s top three industrial deals.
Last month, Link Logistics sold a portfolio of 10 industrial sites with 26 warehouses in Miami-Dade and Broward counties to Longpoint Realty Partners for $331.3 million. The deal was this year’s biggest industrial sale. On the heels of that, Link Logistics sold five warehouses in Sunrise for $205.5 million, marking this year’s second biggest deal.
TA Realty –– led by managing partners James Buckingham, Michael Haggerty and James Raisides –– invests across asset classes, according to its website. It has more than $18.3 billion of assets under management.
In 2022, TA Realty paid $241 million for a 1-million-square-foot industrial park with 12 warehouses at 9701-9793 Northwest 91st Court in Medley’s Countyline Corporate Park. The deal was South Florida’s biggest industrial purchase of 2022.
As a whole, South Florida’s industrial market has prospered, partly due to a tight supply of developable land and high demand for logistics, manufacturing, storage and other space. In other top deals, Ares Management dropped $147 million in October for the four-building Midway Miami Park at 9675 Northwest 174th Street in Miami Lakes.
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Commercial
South Florida
These are South Florida’s biggest industrial sales of 2024