Private Investor Purchases 20,982-SF Industrial Property In Miami’s Doral Submarket

CBRE has arranged the acquisition of a freestanding 20,982-square-foot industrial building at 8375 NW 30th Terrace in Doral for $7,855,000.

Michael Oretsky, Tom O’Loughlin, and Larry Genet with CBRE Industrial & Logistics represented the buyer, Steven Surfas, a private investor relocating to South Florida from California, in the transaction. The seller, Levy Advertising Enterprises, Inc., was represented by Investeam Realty.

“Our client has been in the market to purchase this type of building, specifically in Doral, for two years,” said CBRE Senior Associate Michael Oretsky. “Given the challenging economic environment, it was great to work on this transaction with our client, as well as the seller and their broker, Carlos Chaabouk, whose creativity helped close this sale. We could not be happier for the new buyer who is very relieved to finally close in his ideal location.”

The CBRE team has been retained to handle leasing for the property. Built in 1999, the single-story building features 24-foot clearance and three dock-high doors as well as a ramp.

“As a lifelong commercial real estate enthusiastic, I know this property is a true gem and most exciting addition to my commercial real estate portfolio,” said private investor Steven Surfas. “I was impressed with the immediate neighborhood, and it felt right every time I visited throughout the past two years. There were a few runner-up cities in my inital research, such as Denver and Dallas, but what kept me going back to Doral is a large gap in market analytics and atmosphere between other cities and Doral, especially this building.”

He added, “This is the right fit for me to purchase and supply to meet the high demand. It was a pleasure working with Michael Ortesky, I would not have gotten it without his professionalism and assistance.”