Thursday, June 27, 2013

Lincoln Completes a Large Industrial Acquisition in South Florida With Purchase of Medley International Business Park West

  
Medley International Business Park West, Miami, FL

MIAMI, FL (June 27, 2013) – Lincoln Property Company (Lincoln) has purchased Medley International Business Park West, an 11-building, 847,000-square-foot industrial park in Miami, from TA Associates. Lincoln acquired the property on behalf of a large pension-fund client.


Lincoln will manage the property and has selected Americas Industrial Realty Corp. to handle the leasing.

The Medley West transaction is one of the largest industrial property acquisitions in SouthFlorida during the past decade and marks Lincoln’s third industrial acquisition in the area in the last few years.

 The firm’s industrial portfolio in South Florida now totals more than 1.3 million square feet, and Lincoln remains committed to continuing to acquire and develop industrial properties in the market.

Miami International Airport
“This was a rare and unique opportunity to acquire a large-scale, multi-tenant industrial property in one of the three top-tier industrial markets in the United States,” said Roy Paskow, a senior vice president for Lincoln who oversees the firm’s South Florida operations.

“Over the coming months, we will re-brand and re-position this asset to take advantage of the strong demand in Miami-Dade for well-located industrial space with railaccess for warehousing and light manufacturing.”

Medley West is centrally located at 105th Avenue and Okeechobee Road and features easy access to the entire Miami-Dade region, including the Miami International Airport, the Port of Miami, and major highways including the Dolphin Expressway (SR 836), the Palmetto Expressway (SR 826) and the Florida Turnpike.  

Port of Miami, Miami, FL
Medley West boasts an occupancy rate of 93 percent, with current tenants ranging in size from approximately 5,000 square feet to more than 100,000 square feet.

For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group
Please note new office number: (404) 549-7150
Cell: (404) 405-2354



No comments:

Post a Comment