Cushman & Wakefield Reps Seller In Disposition Of 4-Building Industrial & Self-Storage Portfolio
The industrial portfolio includes two single-tenant buildings totaling 98,201 square feet and the self-storage building totals 85,394 square feet.
The industrial portfolio includes two single-tenant buildings totaling 98,201 square feet and the self-storage building totals 85,394 square feet.
Read on for the most popular news headlines this past week on CRE-sources.
Longpoint’s purchase represents a value-add investment opportunity, as the firm looks to strengthen its foothold in Miami-Dade’s competitive industrial market.
The strategically located site sits adjacent to Miami Executive Airport, just three miles from the Florida Turnpike in the heart of Miami-Dade County’s thriving industrial corridor.
A previously announced ten-year lease for 82,000 square feet with an aircraft engine maintenance, repair and overhaul provider has been expanded to 92,000 square feet, and a new tenant has signed a lease for 72,000 square feet.
Plans call for 75,080 square feet across two buildings.
“This was a quick listing and closing cycle, which demonstrates the strong demand for this type of high-barrier-to-entry product,” said Everett. “We were able to generate significant buyer interest and close the deal in two months, which reflects the continued strength of the South Florida industrial market.”
Read on for the most popular news headlines this past week on CRE-sources.
Michael Alaoui, senior director investments in Marcus & Millichap’s Miami office, represented the seller and procured the buyer in an all-cash transaction.
Berger Commercial Realty Senior Vice President Joseph Byrnes and Sales Associate Daniel Forman negotiated the deal on behalf of the seller.
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