Medley Warehouse Changes Hands

Hector Catano and Frank Trelles of Doral-based Cornerstone International Realty closed the sale of a freestanding warehouse in Medley.
The property, located at 8800 NW 79th Avenue,  is a 45,000-square-foot warehouse on 5 acres.
The seller was Friedkin Medley represented by Joel Kattan of Sperry Van Ness Commercial Realty.  The Buyer, The New Rank, was represented by Cornerstone International Realty.
The warehouse sold for $4,500,000.
The building has been vacant for several years and needs extensive repairs.
 

“We were aware that this building had been under contract several times.  We knew we had to work extra hard to get this deal to close so we formed a great team of architects, contractors and bankers to work through all of the challenges.” commented Catano.

 

Trelles added, “There is still a lack of inventory for purchase of industrial properties. The market is flooded with buyers, but not many sellers. We have to get more creative to look for the good deals for our clients.”

 

 

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