HFF announces sale of light industrial building in Miami
MIAMI, FL – December 28, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Miami Service Center, a 49,384-square-foot, multi-tenant, in-fill, light industrial research and development building in the Miami-area community of Doral, Florida.
The HFF team represented the seller, an affiliate of DCT Industrial. Doral Flex Park LLC purchased the property.
Miami Service Center is situated on 3.7 acres at 8880 Northwest 20th Street approximately two miles west of Miami International Airport in the Airport West industrial submarket. The property is proximate to numerous area thoroughfares, including the Dolphin Expressway, Florida Turnpike and Palmetto Expressway, and several popular destinations, including Miami International Mall and Dolphin Mall. Built in 1987, Miami Service Center has recently undergone renovations, including exterior façade improvements as well as upgrades to the interiors of tenant spaces. The building features 55 percent office finish, 34 percent lab space and 11 percent warehouse with 16-foot clear heights, 18 roll-up doors and loading in the rear at street level.
HFF’s investment advisory team included Tracey Goo and Luis Castillo.
About DCT Industrial
DCT Industrial is a leading real estate company specializing in the ownership, development, acquisition, leasing and management of bulk-distribution and light-industrial properties in high-demand distribution markets in the United States. DCT's actively-managed portfolio is strategically located near population centers and well-positioned to take advantage of market dynamics. As of September 30, 2017, the company owned interests in approximately 73.7 million square feet of properties leased to approximately 870 customers. DCT maintains a Baa2 rating from Moody's Investors Service and a BBB from Standard & Poor's Rating Services. Learn more at dctindustrial.com.
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 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.com or follow HFF on Twitter @HFF.