Blackstone Group Affiliate Adds To Land Assemblage In Medley, Lines Up Property For Industrial Development - Miami Airport Warehouses

Fordome Investment Group, a real estate investment firm led by Kristopher Rodriguez, sold the 2.2-acre site at 9800 N.W. 87th Ave. for $3.3 million to GPT NW 87th Avenue Owner LLC, part of the industrial arm of Blackstone. It was used for automobile storage.

The property last traded for $675,000 in 2001, so Fordome made a nice profit on the deal.

Blackstone now controls about 18.05 acres in the area, which is just west of U.S. 27. It paid $7.2 million in June for 8.85 acres at the northeast corner of Northwest 96th Street and Northwest 87th Avenue. It also owns seven acres at 9800 N.W. South River Drive.

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