non-advertiser
The property consists of six parcels with T6-36A-L zoning, which allows for the highest density and greatest variety of uses within Miami’s urban core, including 382,020 buildable square feet and a maximum height of 36 stories.
The three-property site includes a 6,454-square-foot building – with a mix of warehouse and office space – and a fully fenced, paved storage yard featuring three storage sheds and an additional covered mechanic area.
Sean Lutz, Dan Elliot, Matthew Mousavi and Patrick Luther of SRS represented the buyer, a Nevada-based private investor, in the 1031, all-cash transaction.
Native Realty, PEBB Enterprises and NAI/Merin Hunter Codman have recently announced new hires.
Jake Freeman and Kevin Gonzalez direct leasing for the 300,000 square foot, twin tower project.
The seller paid $45 million for the 37.4-acre site in 2004.
The 188,389-square-foot property encompasses seven buildings and 29 tenants.
The parcels total ±19.4 acres.
Marcus & Millichap’s Doug Mandel and Tyler Kuhlman had the exclusive listing to market the portfolio on behalf of the seller and procured the buyer, a Florida-based private investor.
Senior Managing Director Mitch Sinberg, Managing Directors Matt Robbins, Brad Williamson and Scott Wadler, and Vice President Hugo Hernandez of Berkadia Miami arranged the financing on behalf of Rental Asset Management, a property management company based in Oakland Park, which acquired the property for $31.1 million.
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