Blackstone sells Fort Lauderdale industrial campus for $57 million

Blackstone’s industrial affiliate, Link Logistics, has sold a seven-building industrial campus in Fort Lauderdale, Florida, for $57 million. The property, located on Stirling Road near Interstate 95, consists of approximately 210,000 square feet of light-industrial space.

The buyers, a joint venture between BKM Capital Partners and Boca Raton-based Kayne Anderson Real Estate, noted that the campus is 97 percent leased with a weighted average lease term of 3.9 years. The staggered lease expirations were cited as a key factor in the acquisition.

This transaction follows recent industrial acquisitions by the BKM and Kayne Anderson joint venture, including a $103 million light-industrial portfolio in Central Orlando and a $14 million asset in Fort Lauderdale.