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CenterPoint acquires largest warehouse in Miami-Dade County

Thursday, August 17, 2017

CenterPoint Properties is proud to announce the acquisition of a 961,345 SF facility located at 3300 NW 123rd Street in Miami, Florida. Erik Lundberg and Jeff Hughes of Stan Johnson Co. represented the seller.

“This is CenterPoint’s second large investment in the dynamic and growing Miami market in the last six months,” said PJ Charlton, Senior Vice President of Investments at CenterPoint. “We are excited to acquire a highly functional building on a large land site in one of the best markets in the country. The real estate opportunity was very unique and the basis was compelling and well below replacement cost.”

Located on 59 acres, the facility offers direct access to several major trucking routes and is within two miles of I-826, I-924, I-75 and I-95. Additionally, the warehouse has access to six million people in South Florida and is strategically located four miles from the FEC Intermodal, five miles from the Miami International Airport, eight miles from the Port of Miami and 22 miles from Port Everglades. Property features include 216,000 SF of cooler and freezer space, 92 dock high doors, 268 trailer parking positions, above standard car parking ratios and a secured truck court.

“This asset is located in the heart of South Florida and is consistent with our strategy to acquire buildings with extra parking near major ports and population centers. It is very difficult to find large sites in the top five markets in the country,” added Charlton. “In the last three years, CenterPoint has invested over $1.75 billion in acquisitions and development across the US, and we will continue to seek out additional opportunities in our target markets.”

 

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