Ares Management Expands South Florida Industrial Footprint With $108.7 Million Miami-Dade Warehouse Deal

Ares Management Expands South Florida Industrial Footprint With $108.7 Million Miami-Dade Warehouse Deal

Ares Management has picked up two fully leased industrial buildings in Miami-Dade County for a combined $108.7 million, according to property records, continuing the Los Angeles-based asset manager’s push into one of the country’s most competitive warehouse markets.

The larger of the two transactions involved a 230,147-square-foot distribution center on 15 acres at 3811 West 108th Street in Hialeah, which Ares acquired for $65.3 million. The property sits between the Florida Turnpike and Interstate 75, a corridor that has drawn sustained logistics interest. Target, which signed a 10-year lease in 2022 with two five-year extension options, occupies the entire building, per county records.

Roughly 13 miles south, Ares paid $43.4 million for a 142,472-square-foot warehouse on 8 acres at 13190 Northwest 17th Street, west of the Florida Turnpike near Sweetwater. E-commerce parcel delivery firm LaserShip leases the whole facility.

Builder and Buyer Background

Both buildings were developed by BGRE — formerly known as Brookfield Properties — and completed between 2022 and 2023, making them relatively new additions to the county’s industrial inventory. A spokesperson for Ares declined to comment, and a BGRE representative did not immediately respond to requests for comment.

The acquisition follows Ares’s growing presence in South Florida since it opened a Miami Beach office in 2024. Over the past year, the firm bought a 230,976-square-foot warehouse in Weston for $56 million and a 456,219-square-foot industrial portfolio in Broward County for $121 million.

Market Context

Institutional demand for Miami-area logistics assets has remained strong as e-commerce fulfillment and last-mile delivery needs grow across South Florida. Ares is competing in a space where large alternative asset managers are active buyers; Blackstone Inc. (NYSE: BX), the largest alternative asset manager by market capitalization at roughly $163.8 billion, has also been a participant in recent Florida industrial sales, including Broward County transactions. Blackstone shares closed at $137.80 previously and were trading near $136.99, down 0.58%, in the latest session — a reminder that public-market sentiment toward asset managers has been modestly softer even as private-market real estate dealmaking continues.

For Ares, the two Miami-Dade purchases add long-duration, single-tenant income: a national retailer with extension options in Hialeah and an e-commerce logistics operator near Sweetwater. Both properties’ full occupancy at closing means the acquisitions come with in-place cash flow from day one, a pattern consistent with the firm’s recent South Florida strategy.

What to watch

• Whether Target exercises any of its five-year extension options at the Hialeah distribution center.
• Further industrial acquisitions by Ares in Miami-Dade or Broward as it builds out its regional platform.
• Upcoming earnings reports from Ares Management and Blackstone for updates on industrial portfolio performance and deployment pace.

Source: original release