{"id":1004348096,"date":"2019-08-26T03:25:17","date_gmt":"2019-08-26T11:25:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004348096"},"modified":"2019-08-26T03:25:17","modified_gmt":"2019-08-26T11:25:17","slug":"floridas-largest-industrial-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/","title":{"rendered":"Florida\u2019s Largest Industrial Deal"},"content":{"rendered":"
\"\"<\/a>

Centergate at Gratigny. Image courtesy of CBRE<\/em><\/p><\/div>\n

Centergate at Gratigny, a 1.6 million-square-foot metro Miami industrial park in Hialeah, Fla., traded in the state\u2019s largest transaction so far this year. The seller was a global investment management firm.<\/p>\n

\n

READ ALSO<\/strong>: Industrial Vacancy to Stay Near Historic Lows<\/a><\/p>\n

\n

The industrial park comprises three buildings located at 5801 and 6301 E. 10th Ave. The Class A industrial property includes a 979,000-square-foot distribution and light assembly warehouse that was built in 1999 with varying clear span heights of 32 feet, 17 feet and 13 feet. The warehouse also offers 1.7 parking spaces for every 1,000 square feet, 140 trailer parking spots and a 7 percent overall office finish. The other two buildings have been recently constructed and total 603,000 square feet, while offering 32-foot clear span heights and a dock-high rear load configuration.<\/p>\n

The large property is anchored by promotional products supplier Bullet Line, and is also home to Carnival Cruise Lines that services ships from Port Miami and Port Everglades, as well as to a business-to-business packaging distributor, Veritiv.<\/p>\n

CBRE\u2019s Capital Markets team of Chris Riley and Christian Lee, vice presidents, and Jose Lobon, executive vice president, represented the seller. The team also represented another large Miami-area warehouse sale for $117 million<\/a> earlier this month. The CBRE team also included First Vice President Amy Julian and Financial Analyst Royce Rose from the Debt & Structured Finance team. CBRE\u2019s Miami-based Industrial Leasing team that included Devin White and David Albert also assisted in marketing the property.<\/p>\n

Strong leasing activity<\/h2>\n

South Florida\u2019s industrial market continues to show strong numbers. CBRE research indicates that in the last five years, the market saw 37.8 million square feet of net absorption, which outpaced the 23.1 million of new space delivered over the same time frame. The continued leasing activity has led to vacancy rates remaining low, at below 4 percent throughout the region, and to higher rents, up 35 percent since 2011.<\/p>\n","protected":false},"excerpt":{"rendered":"

The sale of the 1.6 million-square-foot property in metro Miami marks the state\u2019s largest transaction of its kind so far this year.<\/p>\n","protected":false},"author":883,"featured_media":1004348108,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21748,21783,1492,21742],"tags":[35048,32789,35047,40913,35049],"class_list":["post-1004348096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-industrial","category-investment","category-miami","category-latest","tag-amy-julian","tag-cbre","tag-christian-lee","tag-devin-white","tag-jose-lobon"],"acf":[],"yoast_head":"\nFlorida\u2019s Largest Industrial Deal - 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\/floridas-largest-industrial-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Florida\u2019s Largest Industrial Deal\" \/>\n<meta property=\"og:description\" content=\"The sale of the 1.6 million-square-foot property in metro Miami marks the state\u2019s largest transaction of its kind so far this year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-26T11:25:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Centergate-at-Gratigny.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/\",\"name\":\"Florida\u2019s Largest Industrial Deal - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Centergate-at-Gratigny.jpg\",\"datePublished\":\"2019-08-26T11:25:17+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Centergate-at-Gratigny.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Centergate-at-Gratigny.jpg\",\"width\":800,\"height\":600,\"caption\":\"Centergate at Gratigny. Image courtesy of CBRE\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Florida\u2019s Largest Industrial Deal\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1\",\"name\":\"Jackson Chen\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/jchenheadshot.png?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/jchenheadshot.png?w=96\",\"caption\":\"Jackson Chen\"},\"description\":\"Jackson Chen is a Connecticut-based freelance writer who has reported on real estate for more than five years. He cut his teeth with real estate journalism when he previously wrote for Real Estate Weekly, the longest-running real estate publication in New York City. He has been writing for Multi-Housing News since late 2019.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/jackson-chen\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Florida\u2019s Largest Industrial Deal - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/","og_locale":"en_US","og_type":"article","og_title":"Florida\u2019s Largest Industrial Deal","og_description":"The sale of the 1.6 million-square-foot property in metro Miami marks the state\u2019s largest transaction of its kind so far this year.","og_url":"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-08-26T11:25:17+00:00","og_image":[{"width":800,"height":600,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Centergate-at-Gratigny.jpg","type":"image\/jpeg"}],"author":"Jackson Chen","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/","url":"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/","name":"Florida\u2019s Largest Industrial Deal - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Centergate-at-Gratigny.jpg","datePublished":"2019-08-26T11:25:17+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Centergate-at-Gratigny.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Centergate-at-Gratigny.jpg","width":800,"height":600,"caption":"Centergate at Gratigny. Image courtesy of CBRE"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/floridas-largest-industrial-deal\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Florida\u2019s Largest Industrial Deal"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1","name":"Jackson Chen","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/jchenheadshot.png?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/jchenheadshot.png?w=96","caption":"Jackson Chen"},"description":"Jackson Chen is a Connecticut-based freelance writer who has reported on real estate for more than five years. He cut his teeth with real estate journalism when he previously wrote for Real Estate Weekly, the longest-running real estate publication in New York City. He has been writing for Multi-Housing News since late 2019.","url":"https:\/\/www.commercialsearch.com\/news\/author\/jackson-chen\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/Centergate-at-Gratigny.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004348096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/883"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004348096"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004348096\/revisions"}],"predecessor-version":[{"id":1004348114,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004348096\/revisions\/1004348114"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004348108"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004348096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004348096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004348096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}