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| Alex D. Zylberglait |
MIAMI, 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 52,466-square foot warehouse
in the Airport East submarket of Miami.
The asset sold for $4,260,000 representing $81 per square
foot.
Alex D. Zylberglait, a first vice president
investments, and Joseph Phelps, an associate, in Marcus &
Millichap’s Miami office, represented the seller, a limited liability company
from Miami, and the buyer, a limited liability company from Doral was
represented by Globalvest Realty.
“This was an excellent opportunity for a user to acquire an
updated warehouse with dock high loading just minutes from the Miami
International Airport which fit the needs of their business,” says Phelps.
“Vacancy is at a
five year low in the area with rent per square foot in the Miami Airport East
market at pre-recession highs. With high demand for dock high space the area
has seen significant leasing activity over $9 per square foot industrial gross
for dock high space.”
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| Joseph Phelps |
The building is located at 2500 NW 74th Avenue on the corner
of NW 74th Avenue and NW 25th Terrace, just blocks away from Miami
International Airport. It is zoned IU-2
which allows heavy manufacturing.
The building has a total of eight loading doors which
include six dock high bays and two street-level loading bays. The max clear
height in the building is 30 feet with a steel roof and a complete high
pressure sprinkler system.
The lot is completely fenced with electronic gates and 36
parking spots. There is also 4,000 square feet of modern office space which was
updated in 2012.
For a complete copy of the company’s news release, please
contact:
Kirk A. Felici
First Vice President/Regional Manager
Miami, FL
(786) 522-7000
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