Monday, May 12, 2014

Michael Waite of Easton & Associates Brokers $4.8 Million Sale of Airport West Industrial Property in Miami-Dade County

  
Michael Waite
DORAL, FL, May 12, 2014 — The Easton Group, a full-service commercial real estate firm based in Doral, Fla., arranged the sale of a 77,000 sq. ft. industrial building in the Airport West sub-market of Miami-Dade County.  

Prologis LP purchased the property from Gold Coast Beverage Distributors for $4.733 million.  Easton’s Michael Waite along with Jim Armstrong represented both parties in the transaction. 

 Gold Coast moved its business operations to a new location approximately five years ago, but retained ownership of the building and leased it out to USA Tile & Marble. Waite and Armstrong also represented the tenant in that lease transaction. 

 “Considering that Gold Coast was settled in a new location, we figured they would entertain the idea of selling their building, so we approached them about it and they were interested,” said Waite.

Jim Armstrong
 “We then identified an institutional investor that owns several other industrial properties in the area to see if they were interested in buying and they were.  We got a little creative and it turned out to be a win-win for both parties. 

“The challenge in the Miami industrial market is locating the deals that make sense as the capital is eagerly waiting on the sidelines to be placed.”

 The building is located at 7007 NW 30th Street in Miami.

For a complete copy of the company’s news release, please contact:

Todd Templin
Boardroom Communications
954-370-8999/
954-290-0810


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