Long-Held Doral Industrial Portfolio Trades In Major Deal
The purchase equates to roughly $296 per square foot.
The purchase equates to roughly $296 per square foot.
The transaction was led by NAI Miami’s Robert Eckstein and Craig Merlin, who represented the landlord.
Steve Medwin and Nick Wigoda of Stream Realty Partners represented the landlord in the transaction.
Owned and developed by Bridge Industrial, the project is a 270,719-square-foot, two-building speculative industrial project designed to accommodate tenants ranging from 25,000 to 150,000 square feet.
The 2.8-acre site, which is zoned industrial, includes a 12,000-square-foot, two-story main building; a 7,500-square-foot warehouse; and a 2,200-square-foot maintenance shop as well as parking spaces for over 45 trucks.
Longpoint’s purchase represents a value-add investment opportunity, as the firm looks to strengthen its foothold in Miami-Dade’s competitive industrial market.
Sebastian Juncadella and Jose Juncadella of Fairchild Partners are marketing the project for lease on behalf of Seagis, which expects to deliver the property by the end of the year.
The landmark business park totals approximately 3.6 million square feet and is home to more than 350 companies.
Gian Rodriguez, Wayne Ramoski, and Skylar Stein of Cushman & Wakefield will oversee leasing efforts for both speculative and build-to-suit development on behalf of the developer and owner, Bridge Industrial.
The office park last sold in 1996 for $15,875,000.
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