Doral-based Cornerstone International Realty represented A Customs Brokerage, the seller, in the sale of a 38,000-square-foot industrial building.
The facility, located at 5400 NW 84th Avenue in Doral, sold for $2,575,000. A Customs Brokerage leased back the space for 18 months.
The transactions were negotiated by Hector Catano, pictured above and Frank Trelles, pictured below, principals of Cornerstone International Realty.
The international customs brokerage and logistics management company holds a National Permit allowing clearance of merchandise in any U.S. Port via remote filing (RLF). They are also a C-TPAT-certified customs broker assisting in controlling the threat of terrorism.
“The deal posed a number of challenges,” commented Trelles. “Typical buyers of this size warehouse are users, not investors. The owner needed to find an investor because they needed to remain in their building until they found another location. We were proactive and looked for the right investor for this asset and negotiated the deal for a year until we finally came to an agreement suitable for both parties. We take pride in our ability to close difficult deals.”
Catano added, “Second generation buildings are trading at new construction numbers considering their land value. This building is located right across from the Doral City Hall and across from Avianca Airlines in the up-and-coming Downtown Doral.”
Henry Block with Jack Thomas, Inc. represented the buyer, Doral 5400 LLC.
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