Doral Industrial Building Changes Hands

Casal Group recently brokered the sale of a $3.4 million Doral industrial building located at 3515 NW 113 Ct. The buyer, NA & VA Investments LLC, purchased the property from the entity 36^th Terrace Properties, LLC for its business interest TVA Automotive.
TVA Automotive is a leading provider of automotive products and services for light and heavy vehicles such as trucks, buses and off-road vehicles. Its main products include universal joints, drive shafts and components, brake pads, brake rotors, brake master cylinders and hub assemblies. They were in the market for a 20,000 – 40,000 square foot property for an expansion to accommodate their increasing business needs.
After a remodeling of the warehouse and office portions, TVA Automotive will take occupancy on January 1, 2014.
The 29,385 square foot building with a 24’ ceiling height was on the market for less than a week. Brokering agent and director at Casal Group Luis Marquez attributes the quick sale to the profound scarcity of properties falling within this particular size range and the many prospective buyers who have the wherewithal to close quickly.
“Demand is high for quality buildings in prime submarkets like Doral, and supply is scarce,” said Marquez.  “We will be seeing an ongoing trend of short supply for the foreseeable future, and expect buildings on the market for short periods with buyers acting swiftly to close.”
Marquez represented the buyer, NA & VA Investments LLC, in the transaction.  The seller, 36^th Terrace Properties, LLC was represented by Lee Katsikos of Katsikos Group.