Ares Management has acquired two fully leased industrial properties in Miami-Dade County for approximately $108.7 million, strengthening its position in South Florida’s logistics market. The portfolio includes a Target distribution center in Hialeah and a LaserShip facility near Sweetwater, both developed recently by BGRE.
Key takeaways
- Ares paid $65.3 million for Target’s 230,147-square-foot Hialeah distribution center.
- The firm acquired a 142,472-square-foot Sweetwater warehouse leased to LaserShip for $43.4 million.
- Both properties were completed between 2022 and 2023 and are fully occupied.
- The purchases add to Ares’ growing industrial portfolio across South Florida.
Two strategically located warehouses
The larger acquisition is a 230,147-square-foot distribution center at 3811 West 108th Street in Hialeah. The facility occupies approximately 15 acres between Florida’s Turnpike and Interstate 75, providing access to major regional transportation routes.
Target is the property’s sole tenant. The retailer signed a 10-year lease in 2022, with two five-year extension options. The long-term occupancy gives Ares a stable income stream while limiting near-term leasing risk.
The second property, at 13190 Northwest 17th Street, covers 142,472 square feet on roughly eight acres. Located west of the Turnpike near Sweetwater, the warehouse is fully leased to LaserShip, an e-commerce parcel delivery company. Ares paid $43.4 million for the facility.
Recent development and institutional ownership
BGRE, formerly known as Brookfield Properties, developed both warehouses, completing them between 2022 and 2023. The sale demonstrates continued investor demand for newer industrial buildings occupied by established corporate tenants, even as the region’s supply of warehouse space expands.
Ares and BGRE did not provide additional public comments on the transaction. The financial terms were identified through Miami-Dade County property records.
Ares continues its South Florida expansion
Ares opened a Miami Beach office in 2024 and has since increased its activity in the region’s industrial market. In 2025, the investment manager bought a 230,976-square-foot warehouse in Weston for $56 million and acquired a 456,219-square-foot Broward County industrial portfolio for $121 million.
The latest purchases add more than 372,000 square feet to Ares’ holdings and extend its strategy of acquiring modern, fully leased logistics properties. The firm has also made other South Florida investments, including the purchase of the four-building Midway Miami Park in Miami Lakes.
Miami-Dade market shows mixed signals
The acquisitions come as Miami-Dade’s industrial market experiences both continued demand and rising competition. Vacancy reached 7.7% in the second quarter of 2026 as developers delivered new speculative warehouse space. At the same time, the market recorded positive net absorption of 782,677 square feet.
Fully leased facilities with tenants such as Target and LaserShip can offer investors greater income visibility in that environment. Their transportation access and recent construction may also help protect the properties’ appeal as South Florida’s distribution and e-commerce networks continue to grow.
Sources
- Ares Buys Two Fully Leased Miami Warehouses for $109M – Commercial Observer, Commercial Observer.
- Ares Management buys warehouses in Hialeah and Sweetwater from BGRE, The Business Journals.
- Ares Buys Two Hialeah, Sweetwater Warehouses for $108.7M, Hoodline.