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ZYX Capital Facilitates Lease on 103k Sqft Warehouse In Miami, FL

An affiliate of Exeter Property Group purchased a warehouse in Miami Gardens for $13.45 million. The seller, simultaneously leased back the 103,397-square-foot warehouse. ZYX Capital, negotiated both the sale and lease of the building between both parties. The price equated to $130 per square foot however when reached out for comment, Jonathan Salk, the broker who negotiated the deal, remained tight lipped on the leaseback terms. The building last traded for $5.2 million in 2014, so it more than doubled in value.

The property was built on 5.85-acre site in 1982. It’s located in Palmetto Lakes Industry Park, just north of Miami-Opa Locka Executive Airport. A new fulfillment center at the airport has increased demand for industrial space in the area. This is the first major acquisition in South Florida for Exeter Property since a $15.75 million deal in Broward County in 2018. In January, Sweden-based private equity firm EQT AB agreed to acquire Exeter Property for $1.87 million.


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