Annapolis, Md. (August 10, 2022) – Realterm announces the acquisition an industrial outdoor storage and maintenance facility at 9455 NW 104th Street in Medley, Fl. Ideally located on four acres to service the greater Miami area, the 6,500-square-foot maintenance facility offers five doors and two drive-thru bays.
“South Florida continues to see strong demand for parking and outdoor storage properties with on-site maintenance capabilities,” said Arnie Capute, Associate Vice President, East Region Acquisitions, Realterm. “This acquisition is the latest example of Realterm’s strategy of owning well-located, low-coverage properties in top national markets.”
With a population of more than six million people, South Florida is the 10th largest industrial market in the U.S. In 2021, it had the highest year-over-year rent growth in the U.S. of 16.9 percent as well as record-breaking net absorption totaling 15.3 million square feet. The property offers easy access to Florida’s Turnpike and State Route 826 which in turn provides quick entry to all major thoroughfares in the Miami area.
“South Florida’s population is thriving fueled by people who relocated to the region during the pandemic and numerous employers which have expanded or opened regional headquarters in the past 18 months,” said Ed Brickley, Managing Director and Senior Fund Manager, Realterm. “The Port of Miami is one of the busiest in the region and is slated for expansion, which all support the need and demand for industrial properties.”
Highlights of 9455 NW 104th Street include:
- Square feet: 12,454 SF
- Land area: 4 acres
- Grade-level doors: 7
- Access: Ronald Regan Turnpike, SR 836, US 41 and I-75
Nicolas Palazzo and Andrew Fernandez of CBRE represented the seller and facilitated the transaction.