State Street Realty Closes 2 Deals Totaling 52,000 SF, Valued At $7.4 Million

State Street Realty has seen a lot of leasing and sales activity so far in 2021.

Recently, the firm closed 52,000 square feet of industrial transactions in the Doral area.

The Romano Group purchased an 18,000-square-foot industrial building located at 1810 NW 94 Avenue in Doral.  The Romano Group is expanding their business and needed more warehouse space.  State Street Realty Vice President Frank Trelles, SIOR and Commercial Sales and Leasing Associate Jason Gonzalez represented the Buyer.

Trelles and Gonzalez teamed up on another deal, representing the Seller in the sale of a 34,400-square-foot industrial property, Doral Commerce Park, for $4,800,000.  Located at 5900 NW 97^th Avenue in Doral, Doral Commerce Park is a 400,000-square-foot Class A condo development built in 2000. The sale consisted of four (4) units totaling 34,400 square feet. The deal marks the 6^th closed industrial sale over the last 100 days totaling over $40 million for Frank and Jason.

“The demand to purchase warehouses in South Florida has never been higher. Low interest rates have ramped up the demand to purchase commercial real estate,” Trelles said. “Now is a great time to purchase, but it is also a great time to sell because of the lack of inventory and continued strong demand.”