Located in America’s Gateway Park, not far from Miami International Airport, the warehouse last sold for $4.8 million in 2015, so it more than tripled in value.
Located in Miami’s Doral submarket, the building sits on approximately 4.74 acres near the intersection of Florida State Road 826 and Florida State Road 836, just three miles west of Miami International Airport and five miles east of the Florida Turnpike.
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.