Berkadia Arranges $20M Construction Loan For Class A Warehouse In Miami’s Medley Submarket
The to-be-built warehouse will total 174,348 square feet.
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The to-be-built warehouse will total 174,348 square feet.
The property was the former headquarters of the family-owned and operated Rex Discount.
The 15-unit waterfront condo is centrally located in North Bay Village.
The company announced the start of the 501,224-square-foot speculative development at 10300 NW 121st Way in Medley in May 2021. The building is now 100 percent leased.
The final sale price was $22 million, equating to $155 per square foot.
The Miami space serves as the firm’s second office location.
As Miami Beach continues to experience business migration and the return of international visitors, the Lincoln Road District reports drawing over 7.8 million visits over the past year, demonstrating a strong post-pandemic recovery in foot traffic.
Marcus & Millichap will be joining OpenStore and Veru as the first three tenants in The Gateway at Wynwood.
Matt McAllister, Chris Metzger, Rick Etner, and Christopher Thomson represented building owner Black Creek Group in the lease of the ±25,300-square-foot warehouse and distribution center.
Edge 22 is composed of a single land parcel spanning 1.64 Acres and is zoned T6-36A-O and falls within a federally designated opportunity zone.
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