Boston-based AEW Capital Management LP has purchased Flagler Station, South Florida’s largest industrial park for $340 million, according to a report in Commercial Property Executive. Flagler will continue to manage and lease the 33-property, 4.2 million square-foot (msf) portfolio for AEW.

Demand for Miami industrial property is increasing. This is due in part to the Panama Canal expansion. The Canal will have a third set of locks, capable of carrying larger ships and doubling the overall capacity by 2014. In response, Port Miami, Port Everglades and several other ports along the east coast of the US are undertaking deep dredge projects and other forms of expansion and development.

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Last Updated on April 16, 2012 by Ramin Seddiq