Warehouse In Sunshine State Industrial Park Sells For Record Price Per Square Foot

CBRE has brokered the sale of Miami Gardens Corporate Headquarters, a 27,000-square-foot industrial building with Class A office space in Miami, to a private investor for $4.08 million, or $151 per square foot.

Larry Genet and Tom O’Loughlin with CBRE represented the seller.

“This sale marks our team’s 16th sale of the year, bringing our total transactions to $240 million in 2021. We are thrilled to have achieved a record price for this asset and look forward to working with ownership again in the future,” said Genet, a Senior Vice President with CBRE in South Florida.

Located at 1160 NW 163^rd Drive, the vacant property is situated on 1.33 acres of land within a qualified HUBzone and surrounded by high-quality tenants within the Sunshine State Industrial Park. It features warehouse space with 16-foot clear height, two dock wells, two van-high doors and one drive-in door, and 7,000 square feet of Class A office space, a call center and conference rooms.

The property is well-connected to major thoroughfares through the Golden Glades Interchange with access to Florida’s Turnpike, Interstate 95, Palmetto Expressway, State Road 9 and State Road 441, allowing for easy transportation across South Florida and throughout the state.