Ares Management has acquired two fully leased industrial properties in Miami-Dade County for a combined $108.7 million, adding more than 372,000 square feet to its South Florida portfolio. The transaction highlights continued investor demand for modern logistics facilities backed by established tenants and long-term leases.
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 deal strengthens Ares’ growing industrial presence across South Florida.
Two fully leased industrial assets change hands
The larger property is a distribution center at 3811 W. 108th St. in Hialeah. Located on approximately 15 acres between Florida’s Turnpike and Interstate 75, the facility is fully occupied by Target, which signed a 10-year lease in 2022.
The second asset, at 13190 NW 17th St. in Sweetwater, is leased entirely to parcel carrier LaserShip. The warehouse is roughly 13 miles south of the Hialeah facility, creating a concentrated logistics presence in Miami-Dade’s industrial market.
Both properties were developed by BGRE, formerly known as Brookfield Properties. The Hialeah facility was completed in 2022, while the Sweetwater warehouse followed in 2023.
Pricing reflects demand for modern logistics space
The transaction comes as investors continue to favor fully leased industrial buildings that can offer stable income and limited near-term vacancy risk. Miami-Dade remains attractive because of its population growth, transportation infrastructure and role as a gateway for domestic and international distribution.
Recent deals demonstrate the breadth of demand. Woodhill Real Estate purchased a 10-building industrial portfolio in East Hialeah for $32 million. Longpoint Partners also acquired industrial properties in Medley and Miami in separate transactions, including a 146,700-square-foot portfolio and a 90,000-square-foot warehouse.
Ares builds a substantial South Florida platform
The acquisition adds to a rapid expansion by Los Angeles-based Ares since the investment firm opened a Miami Beach office in 2024. That year, Ares bought the four-building Midway Miami Park for $147 million and acquired land for Countyline, a planned three-building industrial complex in Hialeah.
The firm has also purchased 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 transactions point to a strategy centered on large, modern facilities in established South Florida distribution corridors.
Ares manages approximately $428 billion in assets and has additional Miami-area investments outside industrial real estate, including interests connected to Inter Miami CF and the Miami Freedom Park development.
- Ares Forks Over $109 Million for 2 Miami-Dade Industrial Assets, CommercialCafe.