Freight Forwarder Sells 70,000 SF Building In Leaseback Deal
Privately-owned freight forwarding and logistics provider, JAS Forwarding Worldwide, sold their 70,000-square-foot Class A industrial building for $7.05 million and will lease back the entire building from new owner, Industrial Income Trust.
The building is located at 2750 NW 84th Avenue in the heart of Doral.
“The transaction worked well for both parties. The tenant stays in a prime location and the buyer benefits from a stable, quality tenant,” said Devin White, Vice President with CBRE.
Class A space in Miami’s Airport/Doral submarket is highly constrained, pushing the overall average for direct asking gross rates to $9.12 per square foot in that submarket. This rate is the highest within the Miami-Dade submarkets. The overall market rate is $7.38 per square foot.
White was joined by Senior Vice President David Albert and Associate Andrew Lehrer in marketing the facility for sale and negotiating the leaseback on behalf of JAS Forwarding.
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