Granite Pays $36M for Fort Lauderdale Industrial Campus

July 7, 2025

Industrial Investment Miami News More Southeast

Barings and Arkadia Property Group sold the asset.

Exterior shot of Coral Springs Logistics Center in Coral Springs, Fla. — Exclusive Trim and Marc Refrigeration occupy the entire two-building campus. *Image courtesy of JLL*

Granite REIT has purchased a 124,500-square-foot industrial campus in Coral Springs, Fla. The asset traded for $36.4 million, according to Broward County public records. The joint venture of Barings Real Estate and Arkadia Property Group was the seller.

JLL Senior Managing Director Luis Castillo, Managing Director Cody Brais, Associate Taylor Osborne and Analyst David Orta Jr. worked on behalf of the seller.

Coral Springs Logistics Center is at 3850 and 3872 NW 126th St. Completed in 2021, the 7-acre park’s two rear-load buildings feature 24-foot clear heights, ESFR sprinkler systems and a total of 21 dock-high doors. The campus is fully leased to Exclusive Trim and Marc Refrigeration.

The asset is near interstates 595, 75 and 95, which provide access to the Miami and Fort Lauderdale, Fla., metro areas. Fort Lauderdale-Hollywood International Airport is 27 miles away while Miami is within 48 miles.

South Florida industrial in high demand

With Florida’s population growth and limited new supply, Miami stood out as national leader in rent gains, according to a Yardi Matrix report. The metro’s in-place rents stood at an average of $12.72 per square foot in May, up 9.8 percent over the past 12 months. Meanwhile, the national figure grew 6.3 percent, to $8.54.

A series of high-profile deals closed across South Florida since the start of the year, including Link Logistics’ sale of Airport Trade Center, a light industrial campus. The 371,976-square-foot property was acquired by East Capital Partners.

A month earlier, Corebridge Real Estate Investors made a $43.5 million purchase. The company picked up a 211,471-square-foot facility from Longpoint Partners, situated within the seller’s Sunshine State Industrial Park, a 5 million-square-foot campus.

In February, a joint venture between Lincoln Property Co. and Walton Street Capital paid $43.8 million for a Fort Lauderdale-area property, a 226,392-square-foot distribution center in Weston, Fla. CBRE negotiated on behalf of the seller.