Blackstone affiliate bought two industrial vacant lots in Medley for $7.2 million. Link Industrial Properties, an affiliate of Blackstone, bought the 8.8-acre site for $818,181 per acre. The seller is Medley Auto Parts.
Another example of investors and developers targeting Doral in recent years, investment partners plan to make capital improvements to the two-building, 35,560-square-foot Showplace at Doral and reposition it. CLICK ON THE HEADLINE FOR MORE
Carisam-Samuel Meisel, a retailer of duty-free goods, bought out the landlord of its Doral warehouse for $22 million. The price equated to $158 per square foot.
The market for industrial property has been booming nationwide, but especially in South Florida, where developable land exists only in a 20-mile-wide strip between the Everglades and the Atlantic Ocean. Experts speaking on a Bisnow panel last week marveled at the growth of the sector, but also warned of “black swans” — unpredictable events with major consequences.