{"id":1004632186,"date":"2022-11-28T05:12:58","date_gmt":"2022-11-28T13:12:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004632186"},"modified":"2022-12-09T02:55:36","modified_gmt":"2022-12-09T10:55:36","slug":"ta-realty-pays-241m-for-miami-industrial-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ta-realty-pays-241m-for-miami-industrial-park\/","title":{"rendered":"TA Realty Pays $241M for Miami Industrial Park"},"content":{"rendered":"
\"\"

Medley Commerce Center. Image courtesy of CBRE<\/p><\/div>\n

TA Realty <\/strong>has acquired Medley Commerce Center, a 1 million-square-foot industrial park in Medley, Fla. According to CommercialEdge information, LACERA<\/strong> sold the asset for $241 million or $227 per square foot, marking one of South Florida’s largest warehouse transactions this year. The property had previously changed hands for $36.9 million in 1996.<\/p>\n

The same data provider shows that 6.7 million square feet of industrial space have traded across metro Miami since the beginning of the year, at an average $207.35 per square foot. On a national level, the sale price clocked in at $128 per square foot year-to-date as of October, according to a recent CommercialEdge report<\/a>.<\/p>\n

\n

READ ALSO:<\/strong> Todd Henderson on Potential Risks for Industrial Investment<\/a><\/p>\n

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The warehouses of Medley Commerce Center are located at 9200 and 9201 NW 97th\u00a0<\/sup>Terrace, 9180 to 9311 NW 100th St., 9165 to 9312 NW 101st St., and 9210 to 9324 NW 102nd St. The 12-building industrial asset was fully leased at the time of sale by 46 tenants across a range of industries such as home design, food distribution, third-party logistics and aviation markets.<\/p>\n

The property has access to major highways such as the Palmetto Expressway, Interstate 75 and the Florida Turnpike through the adjacent U.S. Route 27. Miami International Airport is some 12 miles southeast.<\/p>\n

CBRE\u2019<\/strong>s Jos\u00e9 Lob\u00f3n, Trey Barry, Royce Rose, Frank Fallon and Devin White represented the seller.<\/p>\n

TA Realty on a roll<\/h2>\n

Boston-based TA Realty has been making several industrial acquisitions across the nation throughout the year, focusing on major markets in Florida, California and Texas. The company recently acquired two facilities in the Inland Empire<\/a>, totaling some 394,000 square feet, for $133.5 million.<\/p>\n

The Inland Empire deal came on the heels of another California industrial buy. The company had closed the $90.5 million purchase<\/a> of a 414,107-square-foot industrial campus in Fairfield the week before.<\/p>\n","protected":false},"excerpt":{"rendered":"

LACERA sold the 12-building asset in one of South Florida’s largest warehouse transactions this year.<\/p>\n","protected":false},"author":3006,"featured_media":1004632188,"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":[32789,35049,32822],"class_list":["post-1004632186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-miami","category-latest","tag-cbre","tag-jose-lobon","tag-ta-realty"],"acf":[],"yoast_head":"\nTA Realty Pays $241M for Miami Industrial Park - CPE<\/title>\n<meta name=\"description\" content=\"TA Realty purchased Medley Commerce Center, a 12-building, 1 million-square-foot property in Medley, Fla., from LACERA.\" \/>\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\/ta-realty-pays-241m-for-miami-industrial-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TA Realty Pays $241M for Miami Industrial Park\" \/>\n<meta property=\"og:description\" content=\"TA Realty purchased Medley Commerce Center, a 12-building, 1 million-square-foot property in Medley, Fla., from LACERA.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ta-realty-pays-241m-for-miami-industrial-park\/\" \/>\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=\"2022-11-28T13:12:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:55:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/Medley-Portfolio.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jordana Rothberg\" \/>\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\/ta-realty-pays-241m-for-miami-industrial-park\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/ta-realty-pays-241m-for-miami-industrial-park\/\",\"name\":\"TA Realty Pays $241M for Miami Industrial Park - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ta-realty-pays-241m-for-miami-industrial-park\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ta-realty-pays-241m-for-miami-industrial-park\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/Medley-Portfolio.jpg\",\"datePublished\":\"2022-11-28T13:12:58+00:00\",\"dateModified\":\"2022-12-09T10:55:36+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/366883c93fc1efde412301ab6a4570f9\"},\"description\":\"TA Realty purchased Medley Commerce Center, a 12-building, 1 million-square-foot property in Medley, Fla., from LACERA.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ta-realty-pays-241m-for-miami-industrial-park\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/ta-realty-pays-241m-for-miami-industrial-park\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ta-realty-pays-241m-for-miami-industrial-park\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/Medley-Portfolio.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/Medley-Portfolio.jpg\",\"width\":800,\"height\":620,\"caption\":\"Medley industrial portfolio. 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