**Corebridge Acquires Miami Industrial Warehouse for $43.5M**
Corebridge Real Estate Investors has acquired a 211,471-square-foot, multi-tenant distribution warehouse located in Miami’s Sunshine State Industrial Park for $43.5 million. The property was sold by Longpoint Partners, which had originally acquired it in 2021 for $28.9 million.
CBRE arranged $32.13 million in acquisition financing for the deal. The five-year, floating-rate, interest-only loan was secured through PCCP by CBRE Capital Markets’ Debt & Structured Finance team, including Brian Linnihan, Mike Ryan, Richard Henry, and Taylor Crowder.
Built in 1969, the cross-dock warehouse at 1400 NW 159th Street sits on 11.2 acres and includes 151 parking spaces. The facility is currently 100% leased to three long-term, creditworthy tenants.
Located within the Sunshine State Industrial Park, the property benefits from access to 93 industrial buildings encompassing five million square feet of space with an impressive average occupancy rate of 96%. The park offers strategic connectivity, situated near the Palmetto Expressway (SR 826) and the Golden Glades Interchange.
