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12691 Northwest 42nd Avenue

Updated Jun 25, 2025

James O. Buckingham And Michael R. Haggerty Of TA Realty Acquire 43.8 Acre Development Site For $105.7M
SOLDDevelopment Site

James O. Buckingham And Michael R. Haggerty Of TA Realty Acquire 43.8 Acre Development Site For $105.7M

12691 Northwest 42nd Avenue

$105,700,000

Building Size

—

Asset Type

Development Site

Closing

Jun 25, 2025

About this deal

AI

This transaction involves the sale of a 43.8-acre industrial development site located at 12691 & 12705 Northwest 42nd Avenue in Opa-Locka. The seller, Blackstone, completed the sale to TA Realty for a total of $105,700,000. The site has been approved for a development of 741,837 square feet across six buildings.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $105,700,000
  • Buyer: James O. Buckingham & Michael R. Haggerty - TA Realty
  • Seller: Stephen A. Schwarzman - Blackstone
  • Approved Square Footage: 741,837
  • Market: Opa Locka
  • Price Per Square Foot: $142
  • Acreage: 43.8

The deal represents the second phase of the Ironwood Commerce Center, which follows TA Realty’s earlier acquisition of the first phase for $160,000,000 in December. The individuals involved in this transaction are significant players in the real estate sector, showcasing their ongoing investment in industrial development.

On the Map

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$105,700,000

Development Site

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Players

James O. Buckingham

TA Realty

Buyer

$768.5M

vol

12 deals

Buyer
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Opa Locka Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.15%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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