Keating Resources acquired the industrial building at 725 SE 9th Ct. in Hialeah, from AEW Capital Management LP for $11.25 million, or about $21 per square foot.
The 532,261-square-foot industrial building was delivered in 1960, and was almost entirely vacant at the time of sale. The buyer plans to lease the remaining space or demolish the existing building and construct a 400,000-square-foot warehouse in its place.
Mike Silva, Alexander Bernaldo and Jonathan Aibel of Americas Industrial Realty Corporation represented the seller. Ed Redlich, Christopher Spear and Edison Vasquez of ComReal Miami, Inc. represented the buyer.
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