Ares Management has acquired two fully leased warehouses in Miami-Dade County from BGRE for a combined $108.7 million, according to property records. The transaction matters because it extends a pattern of industrial acquisitions by the L.A.-based asset manager in South Florida and involves income-producing assets with established tenants, rather than speculative development. The larger property is anchored by Target, a national retailer, while the second is fully occupied by LaserShip, an e-commerce parcel delivery company. Both buildings were developed by BGRE, formerly called Brookfield Properties, and completed between 2022 and 2023.
In the larger transaction, Ares paid $65.3 million for a 230,147-square-foot distribution center at 3811 West 108th Street in Hialeah. The 15-acre site sits between the Florida Turnpike and Interstate 75, a location that offers direct highway access for distribution operations. Target is the sole tenant under a 10-year lease signed in 2022, with two five-year extension options, according to county records. In the second sale, Ares paid $43.4 million for a 142,472-square-foot warehouse on 8 acres at 13190 Northwest 17th Street, west of the Florida Turnpike near Sweetwater, roughly 13 miles south of the Hialeah property. LaserShip has leased the entire building.
The evidence for this deal comes from a single Commercial Observer report published on September 4, 2026, which cites property records and county records for the sale prices, square footage, acreage, tenant identities, and lease terms. The report notes that Ares declined to comment and that a representative for BGRE did not immediately respond to requests for comment. No additional sources were available to corroborate the transaction independently, and the dossier does not include direct statements from either party. The reported figures are therefore best understood as record-based facts rather than company-confirmed disclosures.
The acquisition fits within a broader pattern of Ares activity in South Florida's industrial market. Since opening an office in Miami Beach in 2024, Ares has made multiple industrial purchases in the region. Last year, it bought a 230,976-square-foot warehouse in Weston for $56 million and a 456,219-square-foot industrial portfolio in Broward County for $121 million. The two Miami-Dade warehouses add roughly 372,619 square feet to that footprint. The fully leased status of both assets suggests a focus on stabilized, income-generating properties rather than development risk, though the source does not state Ares's investment strategy explicitly.
Several limitations apply to this analysis. The dossier contains no information on financing terms, capitalization rates, seller motivation, or how the purchase price compares with market benchmarks. It also does not specify whether the $108.7 million combined figure reflects any adjustments beyond the two reported sale prices. The absence of comment from Ares and BGRE leaves open questions about the strategic rationale and the competitive bidding process, if any. What to watch next is whether Ares continues to expand its South Florida industrial holdings, whether the Target and LaserShip leases are renewed or extended, and whether subsequent property records or disclosures confirm the terms reported here.