- Ares Management acquired three industrial properties—two in Miramar and one in Dania Beach—for a combined $120.5M from Blackstone and Link Logistics.
- The largest asset in the deal was the 293,549SF Miramar Distribution Center, which Ares bought for $69.4M.
- This marks the fourth nine-figure portfolio sale involving Blackstone and Link in the South Florida industrial market in just six months.
Blackstone Keeps Up the Pace
According to the Real Deal, in a continuation of its South Florida selloff streak, Blackstone and its logistics arm, Link, have sold another industrial portfolio—this time to Los Angeles-based Ares Management. The three-property package closed for a total of $120.5M, per public records and data from Vizzda.
The largest of the assets is the Miramar Distribution Center, a 14.5-acre site at 11500 Miramar Parkway. Completed in 2001, the 293,549 SF facility sold for $69.4M, or $236 PSF.
Also in Miramar, Ares picked up an 81,727 SF warehouse at 2650 Southwest 145th Avenue for $25.7M, or $314 PSF. The building, completed in 2007, sits on a 6.7-acre site.
Rounding out the portfolio is the Port Everglades Distribution Center in Dania Beach. Ares paid $25.4M for the 82,500 SF property, which sits on 4.3 acres at 1900 Northeast Seventh Avenue, pricing the deal at $307 PSF.
A Pattern of Big Deals
This latest sale is part of a broader trend for Blackstone and Link, who have been actively divesting industrial assets in South Florida. Over the past six months, they’ve executed four nine-figure industrial deals in the region:
- $331.3M sale of a 26-property portfolio to Longpoint Partners (Nov 2024)
- $206.5M and $160M portfolio sales to Elion Partners and TA Realty, respectively (Dec 2024)
Blackstone hasn’t just been selling. The firm recently acquired a 359-unit multifamily property in Miami Lakes for $115.9M and sold a 13.3-acre office site in Hialeah for $20.5M.
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Why It Matters
South Florida’s industrial market continues to attract major institutional capital, with pricing PSF remaining strong across Broward and Miami-Dade. Blackstone’s frequent portfolio moves show that large-scale investment activity in logistics and distribution assets remains robust—particularly from firms like Ares looking to expand logistics holdings amid ongoing demand for e-commerce and last-mile delivery infrastructure.
What’s Next
With South Florida’s industrial vacancy rates still low and demand high, expect more institutional trades and large portfolio deals to follow. As national and global investors recalibrate their portfolios, the region remains a hotbed for both buying and selling logistics assets.
