Los Angeles-based Ares Management has strengthened its presence in South Florida’s industrial real estate market with the $108.7 million purchase of two fully leased warehouses in Miami-Dade County. The deal adds more than 372,000 square feet of distribution space occupied by Target and LaserShip, reinforcing institutional demand for income-producing logistics properties.
Key takeaways
- Ares paid $65.3 million for a 230,147-square-foot distribution center in Hialeah.
- The firm acquired a 142,472-square-foot warehouse in Sweetwater for $43.4 million.
- Target and LaserShip occupy the properties under existing leases.
- The purchase expands Ares’ growing industrial footprint across South Florida.
Two fully leased warehouses change hands
The larger asset is a 230,147-square-foot distribution center at 3811 W. 108th St. in Hialeah. The property occupies approximately 15 acres between Florida’s Turnpike and Interstate 75 and was purchased for $65.3 million. Target is the sole occupant under a 10-year lease signed in 2022.
The second property, at 13190 NW 17th St. in Sweetwater, contains 142,472 square feet and sold for $43.4 million. Parcel carrier LaserShip occupies the warehouse. The properties were developed by BGRE in 2022 and 2023, respectively, and were previously owned by the company, formerly known as Brookfield Properties.
Institutional investors favor logistics assets
The transaction reflects continued investor interest in modern, fully leased industrial properties in the Miami area. These assets can offer stable occupancy and exposure to the region’s expanding distribution and e-commerce networks, particularly when backed by established tenants.
Recent transactions illustrate the broader momentum. Woodhill Real Estate acquired a 10-building industrial portfolio in East Hialeah for $32 million, while Longpoint Partners bought a four-building, 146,700-square-foot portfolio in Medley for $39 million and a 90,000-square-foot Miami warehouse for $24.6 million.
Ares continues building a South Florida platform
Ares has accelerated its regional expansion since opening a Miami Beach office in 2024. That year, the investment manager acquired the four-building Midway Miami Park complex for $147 million and purchased land for Countyline, a planned three-building industrial development near Northwest 154th Street in Hialeah.
The firm has also acquired a 230,976-square-foot facility in Weston for $56 million and a 456,219-square-foot industrial portfolio in Broward County for $121 million. Together, the deals demonstrate a strategy focused on scaling across major South Florida logistics submarkets.
Broader local investment ties
Ares manages approximately $428 billion in assets and has interests beyond commercial real estate in the Miami region. Its local investments include stakes connected to Inter Miami CF and the Miami Freedom Park development.
The latest warehouse acquisition gives Ares additional exposure to established distribution corridors while expanding its base of leased industrial properties in one of the nation’s most competitive logistics markets.
- Ares Forks Over $109 Million for 2 Miami-Dade Industrial Assets, CommercialCafe.