Miami Gardens Industrial Property Changes Hands

Tampa-based investors, JDRP Associates No. 5, Ltd. sold their Palmetto Lakes Distribution Center building to Caribbean Investments, LLC, a real estate investor based in Miami for $4.4 million.
Located at 4760 NW 165th Street in Miami Gardens, just north of the Opa Locka Airport within the Palmetto Lakes Industrial Park, the Palmetto Lakes Distribution Center building is a dock-high industrial property built in 1978.
The market value of the is 95,583 square foot property was listed at approximately $4,700,000.
CBRE First Vice President Ron Berger, an industrial specialist with the Miami office, marketed the asset for sale on behalf of the seller. Carlos Velasquez of Vivo Real Estate Group provided representation to the buyer.