The Miami-Dade industrial market continues to demonstrate remarkable strength as we move through the first quarter of 2026. In a recent transaction highlighting the sustained demand for high-connectivity assets, a Medley warehouse has traded for $16.35 million. This represents a significant value appreciation in just five years.
The property, located at 9315 N.W. 112th Ave., was acquired by an entity tied to Mauricio Luna, Chairman and CEO of IAG Aero Group. The purchase price reflects approximately $332 per square foot. This is a stark increase from its previous sale price of $10.3 million in 2021. This $6.05 million gain underscores the aggressive upward trajectory of industrial valuations in the Medley submarket.
Strategic location and occupancy
The Medley location encompasses a large area of land and will provide significant logistical benefits. The building is directly adjacent to Florida’s Turnpike and the Miami International Airport (MIA). The building has 49,180 square feet and was constructed in 2002. The buyer and seller were represented by Elias G. Patsalos of Agora Real Estate Group, which allowed for a smooth transition between two of the market’s most important recent industrial properties.
Currently, global aerospace conglomerate Honeywell is using about 10,000 square feet of the building, with IAG Aero Group being the future user of the remaining space. Both companies will support Medley’s reputation as a major hub for the aviation and aerospace industries.
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The Medley advantage
Medley continues to be a magnet for owner-operators and investors alike. The town’s strategic proximity to MIA makes it an indispensable location for companies reliant on rapid global distribution. This sale follows a trend of high-value transactions in the area, including a major $51 million sale-leaseback recently inked by a local boat builder.
As institutional and private capital continues to flow into South Florida, assets that combine functional square footage with unparalleled airport access remain the most sought-after prizes in the market.
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This blog post is based on the report “Miami-Dade warehouse trades for $16 million, aviation firm set to move in” published by the South Florida Business Journal on March 11, 2026, and authored by Mark Dovich. The original coverage details the $16.35M sale of the Medley warehouse and acknowledges the dual-representation by Elias G. Patsalos of Agora Real Estate Group.