Realterm announced today the acquisition of a 277,335-square-foot final mile warehouse located at 7101 NW 32nd Avenue in Miami, Fla. The property sits on 12.5 acres, has a combination of dock doors and van doors totaling 98 loading positions and includes 3.5 acres of paved excess trailer parking.
“South Florida is the fourth fastest growing region in the U.S. with a total population of 6.2 million people making it a premier location for final mile facilities,” Arnie Capute, Associate Vice President, East Region Acquisitions, Realterm. “In addition to being located in a dense market, 7101 NW 32nd Avenue is the only building of its size in the submarket that offers this unique combination of loading and parking, making it highly desirable to a host of users.”
Located minutes from I-95, I-75, SR-91 and SR-836, the property’s immediate access to north/south and east/west thoroughfares throughout Miami giving access to more than 1.8 million people within a 10-mile radius.
The property is eight miles from downtown Miami, five miles from Miami International Airport and less than nine
miles from the Port of Miami.
“As Miami’s industrial market continues to post low vacancy rates and positive absorption rates, this acquisition is a valuable addition to our portfolio,” said Stephen Panos, Senior Vice President and Fund Manager, Realterm.
Highlights of the property include:
•Square feet: 277,335 SF
•Land area: 12.5 acres
•Loading positions: 98
•Access: I-95, I-75, SR 91 and SR-836
Roberto Susi of Axiom Capital Advisors facilitated the off-market transaction. “As South Florida population continues to grow, industrial assets of this caliber have become more desirable to institutional investors as well as logistics Tenants” said Roberto Susi, Founder, Axiom Capital Advisors.
Realterm is a real estate operator with a 30-year track record of executing niche private equity strategies at the intersection of the global supply chain and evolving consumption trends. Realterm currently manages over $9 billion in assets through five logistics-oriented private equity fund series: Realterm Airport Logistics Properties (RALP), an open-end fund investing into high flow-through (HFT) on-airport logistics real estate throughout North America; Realterm Logistics Income Fund (RLIF), an open-end, core-plus fund, and the Realterm Logistics Fund (RLF) series, a closed-end, value-added fund series, both of which invest into HFT surface transportation logistics real estate throughout the U.S.; Realterm Europe Logistics Fund (RELF), a closed-end, value-added fund series investing into HFT logistics real estate throughout Europe; and Interspace Logistics Parks (ILP), a closed-end, opportunistic fund series investing into warehouse and logistics real estate throughout the top industrial markets in India.