Three Miami-Dade Warehouses Sell For $38M

An affiliate of New York-based investment giant Blackstone acquired three industrial properties in Miami-Dade County for $38 million in a package deal.

Rodolfo Alvarez in Southwest Ranches manages all three of the sellers. The buyer in the three simultaneous transactions was B9 North Dade Owner LLC, which state records show is managed by executives at Blackstone’s real estate division in New York.

In the biggest deal, Alvarez’s 10700 NW 36 LLC sold the 120,993-square-foot distribution warehouse at 10700 N.W. 36th Ave. in the Westview neighborhood for $21.07 million, or $174 per square foot. It was built in 1969 on the 7.9-acre site, which includes a truck parking yard and a rail spur along the CSX Railway for efficient cargo loading. The property last traded for $13 million in April 2020.

In addition, 16542 Holdings LLC sold the 91,329-square-foot warehouse at 16542 N.W. 54th Ave., just north of Miami International Airport, for $12.65 million, or $139 per square foot. It last sold for $4.82 million in 2016.

Just next door to that property, the 21,099-square-foot warehouse at 16500 N.W. 54th Ave. was sold by Alvarez’s 16500 Holdings for $4.28 million, or $203 per square foot.

 

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