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| Douglas K. Mandel |
AVENTURA, FL – Marcus & Millichap (NYSE: MMI), a leading
commercial real estate investment services firm with offices throughout the
United States and Canada, announced the sale of a 215,921-square-foot
industrial warehouse park consisting of nine buildings in Aventura, Fla. The
property sold for $17,502,000.
Douglas K. Mandel, a first vice president
investments, and Benjamin H. Silver, an associate vice president
investments, both in Marcus & Millichap’s Fort Lauderdale office, represented
the seller,
The Adler Group, and the buyer, an Aventura-based company
led by Mario Grosfeld and Jorge Linkewer.
“Growing space demand, modestly restrained construction, and
a wave of domestic and foreign investment capital continue to strengthen the
South Florida industrial market,” says Mandel.
“Owners contemplating a sale stand a solid chance of
capturing top value for their assets in South Florida’s competitive bidding
climate. Also, a prevalence of all-cash deals are leading to quick executions.”
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| Benjamin H. Silver |
“This was a unique opportunity for an investor to acquire an
industrial asset with ample acreage and functional design in a true infill
location with superior distribution access and significant barriers to entry,”
Mandel concludes.
The property consists of air-conditioned warehouse, office
and flex space and includes grade-level and dock-high doors. The buildings sit
on 10.2 acres and have a total of 75 bays ranging from 1,000 to over 18,000
square feet.
Located at 1600 Northeast 205th Terrace in Miami, the
property is situated on the south side of Ives Dairy Road, directly along the
west side of Interstate 95, and approximately four miles northeast of the
Golden Glades interchange.
The property’s strategic location across from Aventura on
the Miami-Dade/Broward County line provides convenient travel to the
international airports and ports of both counties.
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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