JLL Arranges Sale of 6.86-Acre Shovel-Ready Industrial Site for EastGroup Properties in Miami Gardens
JLL Capital Markets has arranged the sale of Gateway Commerce Park Land, a 6.86-acre shovel-ready industrial development site in Miami Gardens, Florida, on behalf of seller EastGroup Properties. The transaction, announced Aug. 4, 2026, involved a private investor acquiring the parcel at 1500 NW 215th St., which sits along the Miami-Dade and Broward County line within EastGroup Properties' established Gateway Commerce Park logistics complex.
Site Details and Strategic Location
The 6.86-acre parcel offers more than 1,000 feet of frontage along Florida's Turnpike, the state's primary transportation corridor. The site came with complete civil plans in place for the development of two Class A rear-loaded, grade-level flex industrial buildings, reducing entitlement and planning risk for the incoming buyer.
Gateway Commerce Park Land is positioned within Gateway Commerce Park, an approximately 850,000-square-foot Class A logistics park developed and owned by EastGroup Properties. The site provides immediate access to Florida's Turnpike and sits within a 20-minute drive of Miami International Airport and approximately 21 minutes from Port Miami. A 90-minute drive-time radius from the property encompasses more than 6.3 million people, underscoring its last-mile and regional distribution potential.
Shallow-Bay Demand Drives Investor Interest
JLL Capital Markets Managing Director Cody Brais pointed to a structural imbalance in the South Florida industrial market as a key driver of demand for the site. "The scarcity of developable industrial land in Miami-Dade County continues to drive investor interest in entitled sites like Gateway Commerce Park Land," Brais said. "With 95% of new industrial supply targeting tenants over 100,000 square feet, this project is positioned to capture strong demand in the shallow bay segment where nearly 60% of all leasing activity occurs in spaces under 30,000 square feet."
The planned two-building configuration — rear-loaded, grade-level flex product — is well suited to multi-tenant shallow-bay users, a segment where the development pipeline has remained comparatively thin relative to leasing velocity. The mismatch between a big-box-oriented supply pipeline and concentrated demand in smaller bay sizes has made entitled infill sites in supply-constrained submarkets like Miami Gardens increasingly attractive to investors willing to take on development risk.
EastGroup Properties' Portfolio Context
EastGroup Properties (NYSE: EGP), a self-administered equity real estate investment trust and member of the S&P Mid-Cap 400 and Russell 2000 Indexes, focuses on the development, acquisition and operation of industrial properties in high-growth U.S. markets, with emphasis on Texas, Florida, California, Arizona and North Carolina. The REIT targets functional, flexible business distribution space primarily in the 20,000-to-100,000-square-foot range, clustering assets near major transportation features in supply-constrained submarkets. EastGroup Properties' portfolio, including development projects and value-add acquisitions in lease-up and under construction, totals approximately 65.8 million square feet.
The sale of the Gateway Commerce Park Land parcel represents a disposition of a remaining land position within a park that EastGroup Properties developed and continues to own. The move allows the REIT to recycle capital from an entitled site while retaining its broader ownership stake in the surrounding 850,000-square-foot logistics park.
JLL Capital Markets Team
JLL Capital Markets' team representing EastGroup Properties in the transaction included Senior Managing Director Luis Castillo, Managing Director Cody Brais, Associate Taylor Osborne and Analyst David Orta Jr.
JLL's Capital Markets group operates as a full-service global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists in offices across nearly 50 countries. The group's services span investment sales and advisory, debt advisory, mergers and acquisitions, corporate finance, loan sales, equity and fund placement, net lease, derivative advisory and energy and infrastructure advisory.
JLL (NYSE: JLL) reported annual revenue of $26.1 billion and operates in over 80 countries with a global workforce of more than 112,000 as of June 30, 2026.