14100 Southwest 136th Street, Miami, FL, 33186, US

14100 SW 136th St

Asset Description

Jones Lang LaSalle (“JLL”) is pleased to exclusively offer the opportunity to acquire the fee simple interest in ±6.6 acres of land located adjacent to Miami Executive Airport, 3 miles from the Florida Turnpike at 14100 SW 136th Street, Miami, FL 33186 (the “Property” or the “Site”). The Property is currently improved with a 37,400 square foot office & industrial building, comprised of 23,742 SF of office space and 13,658 SF of warehouse space.

INDUSTRIAL DEVELOPMENT POTENTIAL – The property is well-suited for a small-bay industrial development subject to a requirement that 20 percent of the net lot area shall be landscaped open space. There is limited small bay industrial inventory in the South-Dade industrial market, with quoted rents north of $20 PSF NNN at recent new projects.

AUTO DEALERSHIP DEVELOPMENT POTENTIAL – The Property can also be configured for an auto dealership with a high-end showroom and 4-story parking garage. The local area features dozens of auto dealerships within a short drive.

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Attributes

Land area gross

3 ha

Media

Investment Highlights

Industrial Development Opportunity – 14100 SW 136th Street offers the opportunity to develop small-bay industrial on 6.6 acres in one of the most highly desirable industrial markets.

Light Industrial Product is Outperforming - Shallow bay industrial rent growth has outperformed the market by over 70 bps over the last 10 years. Miami has also seen the deepest pool of tenants targeting smaller spaces, as 70% of leases signed in Miami in 2023 were smaller than 50,000 SF.

Attractive Miami-Dade Industrial Market Fundamentals – Strong sustained demand has allowed landlords to increase average asking rents by a staggering 47% between 2020 and 2023 to $17.04 PSF on average. As of Q4 2023, vacancy rates remain stable at 3.3% while rental rates continue to surge averaging north of $17.04 PSF NNN, with new projects quoting north of $20.00 PSF NNN.

Optionality to Pursue Car Dealership Development Plan - The Site provides the opportunity to develop an auto dealership with a modern showroom supported by a 4-story parking garage.

Strong Regional Connectivity – The Site is ideally positioned with immediate access to major transportation networks including the Florida Turnpike and I-874.