Fully Occupied 133,914-SF Industrial Building In Miami Trades Hands

CBRE has arranged the sale of a 133,914-sq.-ft. single-tenant industrial warehouse located in the highly sought after North Central Dade submarket in Miami.

The property traded for $25.5 million.

CBRE National Partners’ José Lobón, Trey Barry, Frank Fallon, and Royce Rose represented the seller, New York-based Lightstone in partnership with Mavik Capital, in the transaction.

Originally built in 1985, Palmetto Lakes Industrial sits on five acres at 15801 NW 49th Avenue in Miami Gardens. The two-story property features 14 dock doors, two drive-in doors, approximately 19,343 sq. ft. of office space, 194 car parking spaces, and a new roof with a 20-year warranty. It is fully occupied by GRM Document Management, a major data management service.

The property offers nearby access to three major highways: Palmetto Expressway (State Road 826), the Gratigny Expressway (State Road 924), and Interstate 75.