The acquisition of this Class A building represents a significant milestone for the buyer as they expand their portfolio and acquire their first South Florida asset.
The sale includes an industrial property which includes a vacant 224,560-square-foot building and approximately 23.2 acres of land.
The Class A infill industrial portfolio consists of seven buildings totaling 677,789 square feet.
Mike Davis, Dominic Montazemi, Mike McDonald, Miguel Alcivar, Rick Brugge, Rick Colon, and Adam Spies of Cushman & Wakefield represented the seller, USPO Miami, LLC, in the transaction.
Mike Davis, Dominic Montazemi, Miguel Alcivar, Adam Spies, Rick Brugge, and Rick Colon of Cushman & Wakefield represented both the seller and buyer in the transaction.
The final sale price was $22 million, equating to $155 per square foot.
The portfolio sold for $49 million.
Mike Davis, Rick Brugge, Dominic Montazemi and Rick Colon of Cushman & Wakefield, with assistance by Chris Metzger, Matt McAllister and Rick Etner, represented the seller, Bridge Industrial in the transaction.
C&W’s Mike Davis, Rick Brugge, Rick Colon and Dominic Montazemi of Cushman & Wakefield represented the seller in the transaction with support from Zachary Eicholtz and Brooke Tulley.
The four-story buildings total 498,073 square feet.
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