Quarter Million SF Former HQ Building Sells

DCT Industrial Operating, LLC a division of  DCT Industrial Trust, purchased the “Southeastern Headquarters Building” in Sunshine State International Park, just off the Golden Glades Interchange in Miami Gardens.
The 233,988 square feet building on 489,993 square feet of land sold for $11,800,000.  Ted Konigsberg of  Infinity Commercial Real Estate represented the Seller, a subsidiary of Groupe Pacific in the transaction, and David Albert, Andrew Lehrer and Devin White of CB Richard Ellis represented the Buyer.
DCT Industrial is one of the largest industrial REITs in North America, specializing in  bulk distribution and industrial properties, based in Denver, Colorado.
At one time, this multi-tenanted location at 1400 NW 159th Street (a.k.a. 15800 NW 13th Avenue) was the former Southeastern Headquarters of Jefferson Stores.
Ted Konigsberg stated, “Timing was everything regarding this transaction. Over the last few months, we’ve been able to attract some great new tenants. The building is 100% leased. The Buyer got a good deal on a fully occupied multi-tenant building. DCT has now established critical mass in this sub-market. The building did not conform with the core holdings of Groupe Pacific, which will now re-deploy the capital received into properties aligned with their development strategy.”