Easton & Associates Arranges Sale Of 106,000 SF Miami Industrial Building

Easton & Associates, the commercial real estate brokerage division of The Easton Group, arranged the sale of a 106,000 square foot industrial property in Miami Lakes.
The purchase price was $8.35 million or $78 per square feet.
Easton & Associates Vice President Tom Kimen represented the seller, 3B Associates, a real estate investment partnership. The buyer is Safari Topia, a manufacturer of educational toys and figurines.  Kimen said Safari Topia will conduct its business operations from the new facility.  The company had been located just a few miles away, but decided to purchase its own building once its lease came up for renewal.

“With interest rates still at historic low levels, it makes a lot of sense for some businesses to own their real estate,” said Kimen.  “In the short term, they get reduced monthly payments, and in the long term, they get the appreciation of the asset.”

The property is located at 5960 Miami Lakes Drive in the Miami Lakes Industrial Park.