South-Florida’s Industrial market continued its hot streak in 2022, even topping 2021. The top five sales for this year beat last year’s top five by square footage, sale and average price per square foot. Here are South-Florida’s top five industrial sales of 2022:
1. TA Realty paid $241M for warehouses in Medley’s Countyline Corporate Park. Boston-based TA Realty acquired this year’s priciest industrial deal, paying $241 million in November for 12 warehouses at 9701-9793 NW 91st Court in Medley. The seller was DWS, a Chicago-based global asset manager. The sale equated to $227 per square foot.
2. Center Point Properties picked up 3 Miramar warehouses from Blackstone for $170M. The warehouses at 3701 Flamingo Road, and 2601 and 2701 SW 45th Avenue, span 550,212 square feet, 80,600 square feet and 109,109 square feet, respectively. The total price per square feet breaks down to $229.
3. MG3 buys Walgreens Distribution facility near Jupiter for $78M. In a sale-leaseback deal, MG3 Real Investment Trust paid $78 million or $114 per square foot for a Walgreens distribution center at 15998 Walgreens Drive. Walgreens still fully occupies the 683,000 square-foot property, which serves 460 stores from Central Florida to the Keys. Aventura-based MG3 has a strong focus on charter schools. Last year the company sold part of its Florida charter schools portfolio for $242 million.
4. Terreno Realty paid $73M for two Countyline Corporate Park warehouses in Hialeah. San Francisco-based Terreno Realty picked up two fully leased warehouses at Countyline Corporate Park for $73.2 million. The seller was Miami-based Florida East Coast Industries, an affiliate of New York City-based Fortress Investment Group. The building has 240,700 total square feet and sits on 19.8 acres at 4281 and 4341 west 108 Street, Hialeah. This deal equates to $180 per square foot.
5. Platform Ventures buys Medley Cold Storage facility for $66M. North Sioux City, S.D.-based Vertical Cold Storage paid $66 million for a 274,191-square-foot freezer facility in Medley. The seller was Camden, N.J.-based United States Cold Storage. The deal equates to $241 per square foot.