An affiliate of The Easton Group has purchased two adjacent industrial buildings totaling 58,954 square feet and signed a new five-year lease with the existing tenant, GA Telesis. The property is located in Miami just east of Miami International Airport.
EWE Warehouse Investments East Airport, LLC paid $2.9 million, or $50 per square foot, for the buildings. The seller of the property located at 3939 NW 27th Street was David Janney Trustee Partnership and the seller of the property located at 3901 NW 27th Street was Service Container, LLC.
GA Telesis is involved in the marketing, sales and leasing of aircraft engines along with providing financing solutions to clients. The company has been leasing 149,000 sf of space in another Easton property in Fort Lauderdale. While that serves as GA Telesis’ South Florida headquarters, the Miami location handles repairs of commercial aircraft components.
“This deal was a win-win for all,” said Edward W. Easton, chairman of The Easton Group. “We were able to meet a client’s needs by securing them a five-year lease with favorable terms, while at the same time providing a solid return for our investors. It’s a textbook example of the creativity and value we bring to a deal.”
Financing for the purchase was handled by Espirito Santo Bank.
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