Blackstone and its industrial arm, Link Logistics, have successfully sold the Ironwood Commerce Center in Opa-Locka for a whopping $160 million. The sprawling business park spans 505,436 square feet and consists of four warehouses located at 12700 N.W. 42nd Ave. TA Realty was the buyer of this property which is currently occupied by six tenants with a leasing rate of 65%.
The seller was represented by CBRE’s team consisting of José Lobon, Frank Fallon, Trey Barry, Royce Rose Gabriel Braun and Daniel Sarmiento who facilitated the deal at an impressive price point equating to $317 per square foot.
Built on a vast land area measuring over 28 acres just off Gratigny Parkway in Opa-Locka back in 2022; this marks the first time that Ironwood Commerce Center has been put up for sale.
This successful transaction comes after Blackstone’s recent sales activity including selling off twenty-six warehouses across South Florida for an astounding sum totaling $331.3 million towards late November followed by another four industrial properties being sold for $205.5 million during early December.
