Miami, FL – January 25, 2012 – (RealEstateRama) — TA Associates acquired the America’s Gateway, a four-building distribution warehouse portfolio in Miami, for just over $19 million. CBRE Capital Markets professionals Chris Riley, Christian Lee and Brian Budnick, with the help of Industrial leasing professionals Devin White and David Albert, marketed the portfolio and negotiated the transaction on behalf of the seller, Clarion Partners.
Located in the heart of the Airport West submarket, the America’s Gateway portfolio consists of four multi-tenant distribution buildings totaling 252,491 square feet. The portfolio was 93.6% leased to 18 tenants at the time of closing. Major tenants include TVA Automotive, Klimaire Products, Design Depot, and Streamline Aviation. All four buildings were built from 1980 to 1981, featuring dock-high rear loading and 20’ clear height.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.
Contact:
Elizabeth Cross
Marketing Director, FL
305.428.6373
elizabeth.cross (at) cbre (dot) com
Lauren Crawford
Communications & Media Manager, FL
813.273.8482
lauren.crawford (at) cbre (dot) com
