The deal marks a 12,000-square-foot expansion.
“The industrial leasing activity remains solid as we enter 2021,” said Waite. “Now that we’ve rolled out a COVID vaccine in South Florida, I suspect business and consumer confidence will only get stronger providing lots of new opportunity in the commercial real estate market.”
The tenant is a full-service moving, delivery, storage, and warehousing company.
The Cushman & Wakefield team of Gian Rodriguez, Wayne Ramoski and Skylar Stein represented seller CDX DEVELOPERS in the land transaction and look to quickly tenant the building, filling a growing need for modern and efficient cold-storage space in South Florida.
The buildings, which total 64,436 square feet, were 93.5% occupied at the time of the sale.
The warehouse has 71,000 square feet of space available for lease for $7.25 per square foot, according to an online listing.
The property, which is situated at 942 Northeast First Avenue, will be home to the Legacy Hotel & Residences, a 50-story mixed-use tower with 274 branded residences atop a 256-room hotel.
MedSquare Health, which comprises 116,000 square feet, opened in November 2020.
The tenant is a startup company that expects to create 90+ new jobs in the region over the next five years. CLICK ON THE HEADLINE FOR MORE
Marcus & Millichap’s Kirk D. Olson and Drew A. Kristol represented the seller, a Miami-based private investor. The buyer, also a Miami-based private investor, was procured by Gordon Messinger, with Cushman & Wakefield. CLICK ON THE HEADLINE FOR MORE