SVN Commercial Realty Closes Sale Of 50,000 SF Industrial Warehouse In Miami
The property, situated on 1.58 acres in Miami’s Airport East submarket, sold to a private real estate investor for $11,750,000, equating to $235 per square foot.
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The property, situated on 1.58 acres in Miami’s Airport East submarket, sold to a private real estate investor for $11,750,000, equating to $235 per square foot.
Construction on the project, located at 125 SW 8th St., will commence before year end.
The seller, which also occupied the property, is relocating its operations to the Doral Airport West submarket.
The development offers 58 bespoke two- to five-bedroom residences, ranging from 1,900 to more than 6,500 square feet, as well as 25,000 square feet of curated retail anchored by a world-class restaurant.
The project will feature 140,000 square feet of premier office, retail, and hospitality space.
Expected to open in fall 2026, the 13,083-square-foot, three-story property lease marks Ketchy Shuby’s first Florida location, joining two existing locations in Lower Manhattan and Southampton, New York.
Milopoulos and Baena procured the buyer and facilitated a rapid transaction timeline.
Scott O’Donnell of Cushman & Wakefield represented PEBB in the sale.
The property is 97% leased and anchored by Publix, which completed a full knock-down/rebuild of its store in 2022, expanding the premises to 48,387 square feet and signing a new 20-year lease term.
The 4-story self-storage building consisting of approximately 749 storage units or 72,920 rentable square feet was developed by the Feldman Companies in 2024.
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