MIAMI--(BUSINESS WIRE)--Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of three newly constructed, fully-leased, Class A, trophy industrial buildings in Countyline Corporate Park totaling approximately one million square feet in the Miami MSA.
HFF marketed the property on behalf of the seller, Flagler Global Logistics, a wholly-owned subsidiary of Florida East Coast Industries, LLC (FECI). Duke Realty Corporation purchased the asset free and clear of existing debt.
Countyline Corporate Park is Miami-Dade County’s newest master-planned business park and will ultimately contain up to eight million square feet of commercial space within approximately 500 acres. Countyline Corporate Park enjoys a strategic location bordering Florida’s two largest counties and offers convenient access to the region’s principal highway systems to connect with 83 percent of South Florida’s population within a 60-minute drive. Combined with its state-of-the art industrial design, highly functional improvements and business park setting, Countyline Corporate Park was the ideal choice for tenants like KLX Aerospace., CGI Windows & Doors, Hyde Shipping and others, which fully pre-leased the three buildings prior to completion.
The HFF investment advisory team representing the seller included managing directors Luis Castillo and Adam Herrin, executive managing director Manny de Zárraga, senior managing directors Rusty Tamlyn and Coleman Benedict and director Tracey Goo.
“Investor interest for industrial properties in South Florida remains exceptionally high, and savvy investors like Duke Realty are strategically pursuing opportunities to build scale in gateway markets with strong long-term growth potential like Miami,” Castillo said. “Flagler successfully executed its business plan for the first three buildings within this world-class business park, and we are honored to have represented one of the preeminent developers in our market on this assignment.”
HFF is a top-producing capital markets intermediary in the country for industrial assets, having closed more than $41 billion in over 2,225 transactions since 1998. The firm has experience in securing transactions for all types of industrial assets, including bulk warehouse, flex, R&D, manufacturing, cold storage and telecommunications.
About Flagler Global Logistics
Flagler Global Logistics is one of Florida’s oldest and largest full-service commercial real estate and development companies. Headquartered in Miami, Florida, Flagler has a rich history dating back over a century. Mr. Henry Flagler first established a predecessor company in 1892, which became a pioneer in the development of Florida's eastern coast. Flagler is a wholly-owned subsidiary of Florida East Coast Industries, LLC, which is owned by private equity funds managed by affiliates of Fortress Investment Group, LLC. For more information, visit www.feci.com.
About Duke Realty Corporation
Duke Realty Corporation owns and operates approximately 149 million rentable square feet of industrial assets in 20 major U.S. metropolitan areas. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500 Index. More information about Duke Realty Corporation is available at www.dukerealty.com.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.