$34M sale-leaseback completed for South Florida data center
JLL Capital Markets led the sales efforts for 2100 NW 84th Ave. in Doral, Florida
PHOENIX – October 3, 2022 – JLL Capital Markets announced today that it has closed the $34 million sale-leaseback of 2100 NW 84th Ave., a 103,000-square-foot, mission-critical data center in Doral, Florida.
2100 NW 84th Ave. is a freestanding data center facility featuring several fiber providers, a 185-mph gust-rated roof, all major systems designed to a 2N+1 redundancy, a covered loading dock and 4,092 square feet of mezzanine space. The seller has invested significant capital into the property since 2022 and will leaseback a portion of the space. The remaining space and power will be used by the buyer.
The property is located within America’s Gateway business park in the Miami Airport submarket. This location within the Miami MSA is convenient to all of South Florida’s major thoroughfares, including Dolphin Expressway, Palmetto Expressway, Florida Turnpike and Interstates 75 and 95. In addition, 210 NW 84th Ave. is adjacent to the Miami International Airport.
According to JLL’s most recent Data Center Outlook, demand for data center investments is at an all-time high with new investors and markets emerging in the sector.
The JLL Capital Markets team representing the seller was led by Senior Director Carl Beardsley, Director Jake Wagner, Associate Josh Katlin and supported locally by Managing Director Luis Castillo and Executive Managing Director Manny de Zárraga.
“Despite economic headwinds affecting other asset classes, the data center industry has seen little impact as demand continues to be strong given the resiliency of the sector,” Beardsley commented.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.