Flagler sells 4.2 million-square-foot, 33-asset Flagler Station portfolio to AEW

Flagler has sold its Flagler Station industrial portfolio, which comprises 33 assets, to AEW, the two sides announced Thursday. “Given the performance of Miami’s industrial market over the last 12 months, we were certain that a Class-A portfolio with such critical mass would garner serious interest from institutional investors,” said Vincent Signorello, president of Flagler. The total size of the deal, the terms of which were not disclosed, was approximately 4.2 million square feet. Flagler Station is the largest industrial business park in South Florida. The Miami Herald reported sources saying the deal was around $430 million. — Alexander Britell