CenterPoint Properties is proud to announce the strategic acquisition of an 8.4-acre land site located on NW 123rd Street in Opa-locka, Florida. This acquisition strengthens CenterPoint’s growing presence in the South Florida market.
CenterPoint intends to improve the site on a speculative basis and will be marketing it for outdoor storage and trailer parking. Bob Comunale of Industrial Realty Group represented CenterPoint in the transaction and will represent CenterPoint in leasing the site with Brian Smith of JLL.
“In 2018, CenterPoint was involved in the development of approximately 4 million SF nationwide, totaling over $400 million,” said Tony Beck, Senior Vice President of Development at CenterPoint. “We’re excited to make our first land investment in South Florida and look forward to future development opportunities in such a dynamic industrial market.”
Evan Lippow, CenterPoint’s Vice President of Investments, said: “Our team is excited to introduce a parking site into a market that has limited supply. This investment aligns with our strategy to acquire port-centric properties with extra land and is a great compliment to our existing portfolio in Dade County.”
CenterPoint has now invested over $300 million in South Florida across eight transactions. The CenterPoint portfolio in South Florida totals 2.6 million SF on 189 acres in Broward and Miami-Dade County.
“In the past two years, CenterPoint has been as active as any investor in South Florida,” said PJ Charlton, Senior Vice President of Investments at CenterPoint. “Our success has come from targeting strategic investments on a one-off basis ranging from $5 million to $100 million. CenterPoint is excited to pursue additional investment and development opportunities in South Florida this year.”
About CenterPoint Properties:
CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators and leaders with the creativity and know-how to tackle the industry's toughest challenges. And it's those kinds of problems—the delicate, the complex, the seemingly-impossible—that we relish most. Because with an agile team, substantial access to capital and industry-leading expertise, those are exactly the kinds of problems we're built to solve. For more information on CenterPoint Properties, visit centerpoint.com, follow @CenterPointProp on Twitter or engage with us on LinkedIn
