Updated Mar 17, 2025
Miami-based Boxer US Buys 115,741 SF Cold Storage Warehouse In Hialeah Gardens For $43.3M
13801 NW 112th AveHialeah Gardens, FL 33018, USA
$43,300,000
$374/SF
Building Size
115,741 SF
Asset Type
Industrial
Closing
Jun 26, 2023
About this deal
AI
A fully occupied cold storage warehouse in Hialeah Gardens has been sold for $43.3 million. Miami-based Boxer US purchased the warehouse, which is located at 13801 Northwest 112th Avenue. The property spans 9.4 acres and has a total square footage of 115,741. The sale price equates to $374 per square foot.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $43,300,000
- Address: 13801 Northwest 112th Avenue, Hialeah Gardens
- Market: Hialeah Gardens
- Square Footage: 115,741
The seller of the cold storage warehouse was Blackstone's affiliate, GPT Hialeah Gardens Owner LLC, which is owned by Stephen A. Schwarzman. The buyer, Boxer US, finalized the deal with an offer of $374 per square foot. The warehouse, built in 2014, is fully occupied by Lineage Logistics and is known for its specialized cooling equipment.
Players
Miami Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93