Avison Young Completes Sale-Leaseback Of Single Tenant Industrial Building
The seller executed a sale-leaseback agreement at closing, allowing the company to continue occupying the property for 30 years.
The seller executed a sale-leaseback agreement at closing, allowing the company to continue occupying the property for 30 years.
The property, situated on 1.58 acres in Miami’s Airport East submarket, sold to a private real estate investor for $11,750,000, equating to $235 per square foot.
The leases bring Phase IV’s Building 36 To 100% pre-leased.
Totaling 144,168 square feet, Building G is now 62% pre-leased. The project is currently under construction and on pace for a December 2021 completion.
Executive Managing Director Ben Eisenberg, Managing Director Thomas Kresse and Vice President Carlos Gaviria represented the seller in the transaction.
The 136,000-square-foot building is fully occupied under a long-term lease to a national provider of packaging products and services.
Joel A. Kattan and Anthony Peragine of SVN Commercial Realty represented the seller, BPL Family, LLLP in the transaction, which closed on September 6. CLICK ON THE HEADLINE FOR MORE
Patience pays off in rapidly changing Airport East Industrial market. CLICK ON THE HEADLINE FOR MORE
The deal represents a relocation for the tenant. CLICK ON THE HEADLINE FOR MORE
Hector Catano and Frank Trelles of Doral-based Cornerstone International Realty represented the buyer in the transaction. CLICK ON THE HEADLINE FOR MORE
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