Link Logistics Sells Miami Property
This light industrial asset previously traded in 2019.
East Capital Partners has acquired Airport Trade Center, a three-building light industrial property in Miami. Link Logistics sold the asset, according to CommercialEdge.
JLL Capital Markets represented the seller in the transaction and secured the acquisition financing.
The 371,976-square-foot industrial center is located at 3208 NW 72nd Ave. Link Logistics purchased the property for $56 million back in 2019, CommercialEdge data also shows.
Airport Trade Center opened in 1972 and underwent cosmetic renovations in 2014. The property features three cross-dock, climate-controlled buildings with grade-level access, loading doors and dock bumpers on site. Truck court depths range between 60 to 90 feet.
The property is adjacent to Miami International Airport and 11.6 miles from PortMiami and downtown Miami, central to the Southern Florida hub. The Airport Trade Center is under a mile from the freeway and approximately 33,000 cars drive past the site a day.
JLL’s Sales and Advisory team that led the sales efforts included Senior Managing Director Luis Castillo, Managing Director Cody Brais and Associate Taylor Osborne. The firm’s Debt Advisory team that arranged the financing was led by Managing Director Melissa Rose and Analyst Jovi Rodriguez.
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East Capital Partners’ Florida expansion
East Capital Partners has been expanding its portfolio over the last couple of years with similar acquisitions across Florida. In February, the company teamed up with Tramview Capital Management to acquire a 133,172-square-foot small-bay industrial portfolio in Port St. Lucie, Fla., north of Miami.
In Jacksonville, Fla., the partnership also purchased Airport Industrial Park, an eight-building small-bay distribution center. Acquired in 2023, the property includes 230,000 square feet with 92 dock doors. It is close to Jacksonville International Airport and the Jacksonville Port.
Miami’s industrial market activity
Miami’s industrial market has been able to maintain a low vacancy rate through the first quarter, despite a new supply surge, according to the latest Colliers report.
The market continues to absorb new space, following four consecutive quarters of negative net absorption, which improved by approximately 300,000 square feet in the first quarter.
At the end of 2024, Link Logistics sold Ironwood Commerce Center, a four-building industrial park in Miami. TA Realty bought the 505,436 square-foot, 28-acre property, which came online in 2022.
More recently, Corebridge Real Estate Investors purchased a 211,471 square-foot warehouse from Longpoint Partners for $43.5 million. The asset is a part of the Sunshine State Industrial Park in Miami at 1400 NW 159th St. and sits on 11 acres. The property spotlights 49 loading docks and is equidistant to the Miami and Fort Lauderdale airports.
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