{"id":1004180987,"date":"2017-06-19T12:55:23","date_gmt":"2017-06-19T20:55:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004180987"},"modified":"2022-12-08T10:25:23","modified_gmt":"2022-12-08T18:25:23","slug":"cw-completes-sale-of-miami-international-logistics-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cw-completes-sale-of-miami-international-logistics-center\/","title":{"rendered":"C&amp;W Completes Sale of Miami International Logistics Center"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004180988\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Capture4.png\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004180988\" data-attachment-id=\"1004180988\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cw-completes-sale-of-miami-international-logistics-center\/capture-109\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Capture4.png\" data-orig-size=\"540,405\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Miami International Logistics Center, aerial view\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Miami International Logistics Center, aerial view&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Capture4.png?w=540\" loading=\"lazy\" class=\"size-medium wp-image-1004180988\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Capture4.png\" alt=\"Miami International Logistics Center, aerial view\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Capture4.png 540w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Capture4.png?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004180988\" class=\"wp-caption-text\">Miami International Logistics Center, aerial view<\/p><\/div>\n<p>Cushman &amp; Wakefield brokered the sale of Miami International Logistics Center, a 506,300-square-foot warehouse and distribution facility in Hialeah, Fla. The property, a prime infill redevelopment opportunity, traded in a $27.4 million deal.<\/p>\n<p>Keating Resources sold the <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial-asset-in-miami-changes-hands\/\">industrial asset<\/a> to Dallas-based Lincoln Property Company. Located at 725 SE 9<sup>th<\/sup> Court, Miami International Logistics Center sits on an approximately 20.6-acre site and was developed in 1960. The facility was 88 percent leased at the time of sale. According to public records, the property last traded in 2013, when Keating Resources acquired it from AEW Capital Management for $11.3 million.<\/p>\n<p>The advisory team led by Executive Managing Director Mike Davis, executive directors Rick Brugge and Michael Lerner of Cushman &amp; Wakefield represented the seller in the deal in conjunction with the South Florida industrial brokerage team of Executive Director Wayne Ramoski and Director Gian Rodriguez. Additionally, the C&amp;W Florida multifamily brokerage team of Vice Chairman Robert Given and Senior Managing Director Troy Ballard helped facilitate the transaction.<\/p>\n<h2>Access To Regional Trade Routes<\/h2>\n<p>Ideally situated in Central Miami, the site is one-half mile northeast of Miami International Airport and a short drive from Port Miami. The location provides access to regional land trade routes via Interstates 95 and 75, Florida\u2019s Turnpike, Airport Expressway, Dolphin Expressway, Palmetto Expressway and Ronald Reagan Turnpike.<\/p>\n<p><em>\u201cThe site is well-positioned for the execution of a near-term redevelopment or mid-term hold due to the in-place cash flow,\u201d<\/em> said Davis in a prepared statement. <em>\u201cRedevelopment has strong support from the local government and has received multiple approvals, designations and offers for incentives related to future redevelopment and job creation,\u201d<\/em> added Ramoski.<\/p>\n<p><em>Image courtesy of Keating Resources<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lincoln Property Company purchased the property, a prime infill redevelopment opportunity, from Keating Resources. The facility was 88 percent leased at the time of the sale.<\/p>\n","protected":false},"author":240,"featured_media":1004180988,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1492,21742],"tags":[34896,36243,32838,34021,36244,36245],"class_list":["post-1004180987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-miami","category-latest","tag-cushman-wakefield","tag-keating-resources","tag-lincoln-property-company","tag-michael-lerner","tag-mike-davis","tag-rick-brugge"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>C&amp;W Completes Sale of Miami International Logistics Center - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cw-completes-sale-of-miami-international-logistics-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"C&amp;W Completes Sale of Miami International Logistics Center\" \/>\n<meta property=\"og:description\" content=\"Lincoln Property Company purchased the property, a prime infill redevelopment opportunity, from Keating Resources. 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