DWS announced today that RREEF Property Trust, its publicly registered, daily NAV REIT, has acquired three last-mile distribution centers serving the broader Miami markets in southern Florida. The three industrial properties provide a total of 289,919 square feet in net-rentable space in one of the most land-constrained industrial markets in the United States.
“We believe that the industrial sector will continue to perform well in this real estate cycle, as the fundamentals for industrial real estate are well supported and investors are increasingly striving to capitalize on the sector’s strong dynamics,” said Todd Henderson, chairman of the Board of RREEF Property Trust and Head of Real Estate, Americas, at DWS.
The acquisition includes three 100 percent–leased industrial buildings. The are Palmetto Lakes Distribution, a warehouse and distribution facility located just north of Opa Locka Executive Airport and less than one mile from the Palmetto Expressway, and Hialeah Industrial I & II, two front-load industrial buildings located five miles from the Miami International Airport Cargo Entrance, seven miles from downtown Miami and eight miles from Port Miami.
