Two Business Park Sites Sell for Close to $2M

MIAMI-Flagler Development Co. of Jacksonville has sold two parcels of land for a total of about $1.7 million at Flagler Station, a landmark industrial park in Miami-Dade County.

In one deal, ME & Gran Park Key LLC bought 85,813 sf of land in Medley for $773,838. The other sale involved Wachovia Bank NA paying $974,932 for 65,340 sf of property, also in Medley. Pedro J. Garcia and Stuart T. Gordon represented Flagler Development in the transactions. Grubb & Ellis represented Wachovia Bank, and there was no co-broker in the other deal.

At press time, Flagler Development still had 5.6-acre and 7.9-acre parcels of land for sale at Flagler Station. The land, which is divisible, is for sale starting at $10 per sf. “We’ve seen a tremendous amount of activity on the remaining sites. We’ve got a number of prospects,” Gordon says.

Flagler Development owns and manages approximately 3.3 million sf of mainly industrial space at the park, South Florida’s largest business park, located about 15 miles northwest of Miami International Airport. At full build-out, the park will have about nine million sf of commercial and industrial space and amenity retail space.