More than 80% of flowers imported to the United States come through Miami. That makes warehhouses with tenants in place a solid investment for property owners looking for a stable source of income.
CBRE Senior Vice President Larry Genet, Executive Vice President Tom O’Loughlin , Executive Vice President Jose Lobón, Vice Chairman Christian Lee and Senior Associate Jake Zebede represented Brookfield Asset Management in the purchase of Bristol Logistics Center, a 145,260-square-foot distribution facility located at 1900 NW 92nd Ave within Fingerlakes Industrial Park in Miami. The property sold for $26,300,000. No other brokers were involved in the transaction.
Labrador Construction acquired a warehouse in Doral for $15 million. The price equated to $243 per square foot. It last traded for $9 million in 2015. The increase in value demonstrates the strong demand for industrial space in Miami-Dade County.
Bought by Longpoint Realty Partners, the 39,050-square-foot building, including an adjacent 14,400-square-foot lot, sold for about $150 per square foot. CLICK ON THE HEADLINE FOR MORE