Absorption turning negative doesn’t tell the whole story. The underlying Miami-Dade industrial market fundamentals remain strong, with Class A industrial properties seeing peak vacancy rates due to recent completions.
The development will feature five condo towers, each 20 stories tall and will include 1,498 residential units as well as 141,694 square feet of commercial space.
The family-owned company led by Ed Easton and based in Doral acquired the105,000-square-foot industrial property located at 9880 Northwest 25th Street. The buyer secured a $29.7 million loan from another Easton affiliate. This purchase is priced at $250 per square foot.
In concurrent transactions, a warehouse in Doral and a warehouse in Hialeah Gardens was acquired by a partnership between Doral-based and Easton Group and Boston-based TA Realty.
The property consists of three 36-foot clear height rear-load industrial distribution buildings containing approximately 495,000 square feet on 23.4 acres.