Keystone Property Trust purchased three distribution centers consisting of 189,218 square feet in Miami, Fla.
The total value of the transaction was approximately $12.5 million.
The facilities, located within one mile of Miami International Airport in the Airport West submarket, were built in 1999 and were 100 percent leased to credit tenants, including Tyco International and Trane Corp., at the time of sale.
West Conshohocken, Pa.-based Keystone Property Trust is a fully integrated real estate investment trust focusing on properties in the eastern United States.
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