WestVest Brokers Close 2 Deals Totaling Over $8M
Frank Trelles and Hector Catano, a brokerage team with WestVest Associates, announced the closing of 2851 NW 107th Avenue, Doral FL 33172, 35,000 SF warehouse sold for $3,750,000 and 11400 NW 34th Street, 50,000 SF warehouse for $4,300,000.
The team represented the owners and the buyers in both transactions.
The property at 2851 NW 107th Ave, Doral FL, was purchased by Miami Perfume for their distribution business. The transaction took over a year to negotiate with the owner and to obtain financing.
The second transaction of 11400 NW 34th Street, Doral FL was purchased by the second largest industrial REIT in the country, DCT Industrial. The seller was Trading Giant.
“With the Airport West’s very low vacancy rate, tenants do not have many options to lease warehouse space so they are turning back to the purchasing market. Low interest rates and fair prices are ramping up the demand” said Trelles. “REITs have been in a buying frenzy trying to acquire as much product as possible. That’s a great indication that our market is strong” Catano added.
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