Knotel, a flexible workspace platform founded in 2015 in New York, is slated to occupy the entire 46,072-square-foot property.
The firm, led by CEO Malcolm Butters, has been involved in developing industrial projects totaling 5 million square feet with a value of over $1 billion.
The investor/developer paid $14 million for an asset in northwest Miami-Dade.
The JLL Capital Markets team representing the seller was led by Director Max La Cava, Senior Managing Director Brian Shanfeld, Managing Directors Jason Dewitt and Luis Castillo and Vice President Steven Okon.
JC Conte, SIOR and Brian T. Ahearn, CCIM represented the tenant in the lease deal.
The industrial flex warehouse located along NE 189th Street in the high barrier-to-entry market of Aventura (Miami MSA) offered both stable income with additional upside, given the size and liberal zoning of the parcels as well as the prime location and strong opportunity for redevelopment.
The multi-phased, $38.5-million project totals over 850,000 square feet of Class A warehouses.
SMITH Commercial Real Estate Group intends to expand in market share and relationships and become the premiere boutique industrial and commercial real estate brokerage in South Florida.
The deals are valued at over $55 million.
CBRE’s Nicolas Palazzo and Andrew Fernandez brokered the deal.
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