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| Countyline Corporate Park, Miami, FL Photo by Raul Pedroso |
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| Luis Castillo |
MIAMI, FL –– 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.
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| Adam Herrin |
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.
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| 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.
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| Manny de Zarraga |
“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.
Flagler Global Logistics is one of Florida’s oldest and largest full-service
commercial real estate and development companies.
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| Rusty Tamlyn |
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.
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.
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| Coleman Benedict |
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.comor follow HFF on
Twitter @HFF.
For more information,
please contact:
KIMBERLY STEELE
HFF Digital
Content/Public Relations Specialist
(713) 852-3420
