Industrial Sell-Off Drives Blackstone South Florida Sales Past $1B

Strategic Sell-Off

Blackstone and Link Logistics have now surpassed $1B in South Florida industrial real estate sales, reports The Real Deal. The milestone caps off six high-profile transactions since November. The disposals reflect a strategic push to monetize warehouse assets after years of strong appreciation and rising demand in the industrial sector.

The Latest Deal

The most recent transaction involved the $105.7M sale of a 43.7-acre site in Opa-locka to TA Realty. The undeveloped land, once home to the Opa-Locka Hialeah Flea Market, is slated to become Phase Two of Ironwood Commerce Center — a six-building project totaling nearly 742K SF of office and industrial space.

Context And History

Blackstone acquired the Opa-locka site through its 2018 acquisition of Gramercy Property Trust, which had bought the parcel a year earlier for $38M. The deal highlights the firm’s ability to generate substantial returns on its industrial holdings through redevelopment and lease-up strategies.

A Pattern Emerges

 Blackstone and Link’s five other sales include:

• The $160M sale of Ironwood Commerce Center Phase One to TA Realty in December
  
• A $206.5M three-property portfolio sold to Elion Partners in Sunrise
  
• A $331.3M, 26-property portfolio offloaded to Longpoint Partners in November
  
• A $90.2M sale of Airport Trade Center near Doral in May
  
• Three properties in Dania Beach and Miramar sold to Ares Management for $120.5M in April
  

These assets represent only a fraction of Link’s South Florida footprint, which spans 18.7M SF across 191 sites.

Why Now?

Experts say these moves stem from the investment lifecycle of Blackstone’s funds, many of which aim to exit within five to seven years. With industrial real estate valuations high and capital targeting stabilized assets, it’s a favorable environment for “opportunistic selling,” according to Avison Young’s Chris Skibinski.

Off-Market Move

Fairchild Partners’ Sebastian Juncadella noted that the Opa-locka land wasn’t actively listed. TA Realty likely initiated the deal to prevent future leasing competition from a neighboring Blackstone-owned development — a strategic play in a tight logistics market.

Looking Ahead

Even after the $1B sell-off, Blackstone and Link remain major industrial players in South Florida. The recent sales show Blackstone’s intent to seize market demand and reallocate or return capital to investors.