Vacant Industrial Site Near MIA Sells at 77% Premium
The buyer plans on keeping the IOS site as a truck terminal.
By Julia Echikson October 31, 2025 1:40 pm
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Trucking logistics company Outpost has paid $52.1 million for a vacant lot that functions as an industrial outdoor storage property near Miami International Airport, Commercial Observer has learned.
The 17-acre site sits just west of the airport at 3200 Northwest 67th Avenue. The buyer plans to keep the parcel as a truck terminal, leasing it out to other companies, according to Marc Smouha of CorePoint Real Estate, who brokered the off-market transaction, alongside Jonathan Marti.
Centerpoint, the Illinois-based seller, purchased the asset for $29.5 million in 2020, property records show. Amazon once leased the entire lot, though it now has no tenants.
The 77 percent appreciation of the site in just five years reflects the rise of the industrial asset class since the pandemic, when demand skyrocketed due to the rise of e-commerce and online shopping. “It’s a legacy asset, right by the airport,” Smouha added.
Industrial vacancies in Miami-Dade County have risen to 7.3 percent — the highest since 2021 — and the absorption rate is down year-over-year, yet asking rates were up in the third quarter of 2025, according to data from Savills. The rates jumped by 4.1 percent quarter-over-quarter to $16.87 a square foot per year.
The county is still recording large transactions. Earlier this month, the investment arm of the Church of Jesus Christ of Latter-day Saints paid $174 million for a 377,336-square-foot industrial park in Hialeah.
Representatives for Outpost and Centerpoint did not immediately respond to requests for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
