S
outh Florida's top 10 industrial sales over the past 12 months totaled $1.1 billion, surpassing last year's largest deals by nearly $300 million. Link Logistics, a subsidiary of Blackstone, dominated the market with two massive deals worth more than half a billion dollars. The company sold a pair of warehouse portfolios to institutional investors.
The top 10 buyers acquired approximately 5 million square feet of industrial space this year at an average price of $252 per square foot. Here are the biggest industrial sales for 2024:
1. $331.3M | Miami-Dade/Broward/Palm Beach portfolio | Longpoint
Longpoint Realty Partners, led by CEO Dwight Angelini, acquired a 10-site industrial portfolio with 26 warehouses from Link Logistics for $331.3 million.
2. $206M | Sunrise | Elion Partners
Link sold a five-warehouse portfolio in Sunrise to Miami-based Elion Partners for $205.5 million, surpassing last year's second-largest deal by nearly $45 million.
3. $147M | Miami | Ares Management
Ares Management acquired Midway Miami Park from Butters Construction & Management and Greystar for $147 million, outpacing last year's third-largest sale by $34 million.
4. $107M | Jupiter | Hillwood
Hillwood, led by Ross Perot Jr., purchased a 1 million-square-foot Amazon fulfillment center in Jupiter for $106.5 million, exceeding last year's fourth-largest deal by nearly $41 million.
5. $101M | Pompano Beach | Tishman Speyer
Tishman Speyer acquired a fully leased warehouse complex in Pompano Beach from IDI Logistics for $101.1 million, more than double the price of last year's fifth-largest industrial sale.
6. $72M | Deerfield Beach | Brennan Investment and Investcorp
Brennan Investment Group and Investcorp purchased Powerline Business Park in Deerfield Beach for $72.3 million, surpassing last year's sixth-largest deal by nearly $22 million.
7. $60M | Miami | BentallGreenOak and Strategic Capital Partners
A joint venture between BentallGreenOak and Strategic Capital Partners acquired a Medley warehouse leased to Quirch Foods for $60 million, exceeding last year's seventh-largest sale by nearly $12 million.
8. $56M | Hialeah | Property Reserve
Property Reserve purchased a warehouse within Beacon Logistics Park in Hialeah from Codina Partners and Affinus Capital for $55.8 million, outpacing last year's eighth-largest deal by nearly $13 million.
9. $55M | Riviera Beach | LBA Logistics
LBA Logistics acquired a Riviera Beach warehouse from Dalfen Industrial for $55 million, surpassing last year's ninth-largest sale by nearly $12 million.
10. $51M | Weston | Chik-Fil-A
Chik-Fil-A purchased a distribution facility in Weston for $50.5 million, exceeding last year's tenth-largest deal by nearly $11 million.
