Miami International Distribution Center

Relationship and local market knowledge leads to development of Class A product in an established high-barrier-to-entry market.

This acquisition included four non-contiguous land parcels totaling 24.91 acres (1,085,132 SF) of industrial land in Miami, FL. The land is in an established industrial park called Pan American West and is located 1.5 miles west of the Florida Turnpike, approximately six miles west of Miami International Airport and in close proximity to the Dolphin Expressway. At acquisition, it had a development potential of approximately 424,000 SF of speculative warehouse product on two of the parcels. Development of this park began in 2007, when the original developer received final plat approvals, installed a significant amount of the business park’s infrastructure, and completed a majority of the necessary sitework. This acquisition represents the remaining industrial land within the 84-acre park owned by the original developer.

Our local market knowledge and relationships in the community led to the opportunity to acquire the parcels at an attractive basis. We began the pre-construction phase immediately upon closing, and completed construction on schedule. We entered into a long-term lease on the facility shortly following delivery to the market.