CenterPoint Pays $184M for Home Depot Facilities in Metro Miami

The deal is the investor’s third with Flagler Global Logistics in less than a year
4210 and 4040 W. 108th St. Image courtesy of CenterPoint

CenterPoint Properties has acquired two facilities at Countyline Corporate Park, a business park in Hialeah, Fla. The assets, totaling more than 1 million square feet, are leased to Home Depot. The buyer acquired the properties from Flagler Global Logistics. According to South Florida Business Journal, the buildings sold for $184 million.

The assets feature 34-foot clear heights, parking for approximately 600 trailers and ESFR sprinkler systems. According to the buyer, the buildings only cover about 30 percent of their 49 and 24-acre lots.

Located at 4210 and 4040 W. 108th St., the portfolio is just off Interstate 75. The buildings are within 10 miles of Miami-Opa Locka Executive Airport and 16 miles from Miami International Airport.

This sale marks CenterPoint’s third transaction in less than a year with the seller, after the company acquired two properties in the same industrial park, in June, and a 17.2-acre parcel in Miami in March 2020. CenterPoint’s South Florida portfolio comprises 4.4 million square feet. In September, the firm acquired a 276,330-square-foot industrial facility in Kent, Wash.