Outpost expanded its industrial portfolio into Miami-Dade County after paying $52.1 million for an outdoor storage site.
Chicago-based Outpost, led by CEO Trent Cameron, acquired the 17-acre property at 3200 Northwest 67th Avenue adjacent to Miami International Airport, Marc Smouha with Corepoint RE told The Real Deal.
Smouha and Jonathan Marti, also with Corepoint RE, brokered the off-market deal. The property sold for nearly $23 million above the previous sale price five years ago.
The seller, an affiliate of Oakbrook, Illinois-based CenterPoint Properties, led by CEO Jim Clewlow, paid $29.5 million for the site in 2020, records show. The 17 acres are part of a 200-acre industrial complex that sits right behind the airport’s runways. The warehouses surrounding the outdoor storage yard were developed by Florida East Coast Industries, the parent company to the high-speed Brightline train.
Outpost owns and operates a nationwide network of truck terminals and container drop yards for freight and logistics providers, according to the firm’s website. The company targets storage yards near distribution hubs, freight corridors and intermodal facilities in major cities.
With its recent purchase, Outpost now operates five outdoor storage facilities in Florida, including a 14-acre depot in Tamarac that can fit up to 370 semi-trucks, the firm’s website shows. The company charges monthly rates between $200 to $400.
CenterPoint is among the top institutional investors in Miami-Dade’s industrial market. In 2022, the firm dropped $47.5 million for a 12-acre outdoor storage facility that is fully leased to Miami Truck Parking. The prior year, CenterPoint acquired a fully leased distribution facility in Doral for $16.7 million, as well as paying $184.4 million for two warehouses and a development site within a Hialeah business park.
In the third quarter, industrial sales in Miami-Dade County averaged $276 a square foot, the highest in the state, according to an Avison Young report. Miami-Dade also led Florida in overall sales volume with $687 million in deals in the third quarter. Figures for last year’s third quarter sales numbers were not available.
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