Miami-Dade Flower Warehouse In Doral Sells For $16 Million

A Doral warehouse used for the import and distribution of flowers sold for $16 million.

Finger Lakes Property, an affiliate of tenant USA Bouquet Co., sold the 115,477-square-foot warehouse at 1500 N.W. 95th Ave. to IV5 1500 N.W. 95th Ave LLC, managed by executives at New York-based Brookfield Properties. The price equated to $139 per square foot.

It last traded for $7 million in 2003.

The warehouse was constructed on the 6.5-acre site along a lake in 1988, just west of Miami International Airport.

USA Bouquet maintains its headquarters in the building, which includes 75,000 square feet of cold storage and 12 loading docks.

Source: SFBJ