In recent months, rare core assets that will produce over a more extended hold model saw the highest demand, and some investors even bought atypical properties for redevelopment later. Another significant trend was owner-developers, mostly institutional, pursuing unique land opportunities amid severe land scarcity. In one of South Florida’s largest land sales in 2019, an off-market transaction facilitated by Avison Young, an entity known as AVE LLC sold 123 acres in east Hialeah to Bridge Development Partners. The Chicago-based developer paid $126 million for the property in the fourth quarter and plans to build up to 1 million square feet of speculative industrial space near Miami-Opa Locka Executive Airport.
//rebusinessonline.com
