Miami Turnpike Industrial Portfolio 11900 SW 128th St 218,621 SF 100% Leased Industrial Building Miami, FL 33186 For Sale

JLL has been exclusively retained to market for sale the Miami Turnpike Industrial Portfolio – a 100% leased, 218,621 SF last-mile logistics portfolio strategically positioned along Florida’s Turnpike and the Don Shula Expressway in the high-barrier South Dade submarket of Miami, Florida. The Portfolio benefits from proximity to key logistics infrastructure such as Miami International Airport, PortMiami, and Tamiami Airport.
The Portfolio is 100% leased to nine national and regional tenants with an average tenure of 10.5 years and strong historical occupancy. The portfolio’s longstanding success is underpinned by its above-market building specifications including 1,145 linear feet of highway frontage, 14,400A 120/208V-277/480V 3-phase heavy power, 18’-25’ clear heights, four-sided loading capabilities, 100% dock-high loading, 67% climate-controlled space, versatile bays ranging from 4K-29K SF, and former rail-service with reactivation optionality. The Property is one of only few institutional-quality assets in the submarket offering above-market specifications and differentiated product.
The Portfolio features a 2.6 year weighted average lease term and a 31%+ un-trended mark-to-market opportunity. Additional value add opportunities include: conversion to NNN lease structures, monetization of the ±1.4 acres of outdoor storage/expansion space, installation of billboard signage (±$10K estimated monthly revenue) and potential Shallow-Bay condo conversion ($400+ PSF), providing multiple pathways to strong NOI growth and exit strategy optionality.
The Portfolio benefits from a strategic location in the heart of Southwest Dade, Miami’s tightest industrial market, posting the MSA’s lowest vacancy rate at 2.1% and sustaining sub-3% vacancy for over a decade. Future rent growth is protected by severe supply constraints which position existing assets in the submarket for long-term rent growth and capital appreciation. The Portfolio is also expected to benefit from the Don Shula Expressway (SR 874) extension and on-ramp improvements, which will enhance accessibility to I-75, I-95, and the broader South Florida logistics network while reducing congestion and drive times.