Lincoln Properties buys 506,000 sqf logistics center in Hialeah, FL
The Miami International Logistics Center in Hialeah, FL. has been sold to Dallas-based Lincoln Property Company in a $27.38 million transaction. The 506,300 square foot distribution and warehouse facility was constructed in 1960 on a 20 acre site at 725 Southeast 9th Court. Currently 88 percent leased, the center is located one-half mile northeast of Miami International Airport and a short drive from PortMiami. Cushman & Wakefield represented the seller, Keating Resources in the disposition. Executive Managing Director Mike Davis, Cushman & Wakefield said “The site is well positioned for the execution of a near-term redevelopment or mid-term hold due to the in-place cash flow."