Baptist Health South Florida sold a 6.63-acre industrial development site at 14100 SW 136th St. in Miami to Hamilton Development Company for $12.29M. The parcel is zoned IU-C, allowing for industrial, office, hospitality and automotive usage.
Property: 6.63-acre development site in Miami
Price: $12.29M
Seller: Baptist Health South Florida
Buyer: Hamilton Development Company
Designed for flexibility, the site can accommodate 110,000 s.f. of small-bay industrial space and premium loading options, including grade-level and dock-high access.
Located in Miami-Dade County’s industrial corridor, the property is next to Miami Executive Airport and close to Don Shula Expressway and Florida’s Turnpike. Its proximity to major highways offers users easy access to labor and the ability to reach over 5.4 million people within a 90-minute drive.
South Florida’s limited land supply fueled bidding.
“The strength of bidding activity on this asset reinforces our conviction that Miami-Dade’s market continues to outperform on both a regional and national basis,” said Luis Castillo, managing director at JLL, who represented the seller. “Investors recognize that South Florida’s population growth trajectory, international trade advantages and severe land constraints create a perfect storm for sustained industrial real estate appreciation.”
The deal required subdividing a larger parcel through a covenant-in-lieu process, allowing Baptist Health South Florida to retain ownership and continue operating its West Kendall Emergency Care Center on one portion of the property, while selling the 6.63-acre development parcel to Hamilton Development Company.
A 37,400-s.f. office and warehouse building was demolished before closing to make way for new construction.
