Marcus & Millichap Announces Sale Of Miami Industrial Warehouse

Marcus & Millichap announced the sale of the industrial warehouse detailing 30,011 square feet.

The asset sold for $7 million.

“This was a unique 30k square-foot industrial asset in the center of Miami-Dade on a 2-acre lot which created a competitive bidding environment. We generated 10 offers, eclipsing a previous “off market” offer for $6 million and were able to yield our clients an extra $1 million in value,” said Jonathan De La Rosa, first vice president investments.

Jonathan De La Rosa and Eduardo Toledo, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, private investor and legal owner of Tekton Construction Corp was also procured by De La Rosa and Toledo.

The warehouse is located at 900 SW 70th Avenue. The property is fully fenced surpassing 59,000 square feet of outdoor storage.