Industrial Building in Sunshine State Industrial Park Sold

Written by Jacqueline Coleman

January 4, 2021

The Industrial Team at ComReal completed the sale of the industrial building located at 16215 NW 15th Ave Miami, FL 33169, inside Sunshine State Industrial Park. This facility is +/- 63,683 SF on +/- 3.15 Acres. The property was used for manufacturing as it offers heavy power and extra parking. The seller, Custom Stainless Steel Equipment, had occupied the warehouse for almost 15 years. The company plans to expand to a larger facility on the west coast of Florida. The buyer, Quantum Equity One, LLC, is a local business owner and investor who may use the facility for his business. The sale price was $6,000,000.

The building was originally built in 1968 and has always been used as a manufacturing facility. It’s a very unique facility that is hard to find and replicate in the South Florida Industrial Market. Additionally, the location within Sunshine State Industrial Park offers easy access to the Golden Glades interchange, Broward, and Palm Beach Counties. The industrial park is home to many well-known companies, including Southern Glazer’s Wine & Spirits, Imeca, Perko, and many others. Businesses in the park appreciate its features and typically opt to stay located there for a long time.

“This building is a good example of the high demand for industrial buildings in Miami. Before we took it to market, we had multiple buyers and offers. The buyer offered the most flexibility for the seller, so it was the winning contract. It’s important for buyers in this market to be flexible with sellers,” said Edison Vasquez from ComReal.

This is the fourth transaction the ComReal Industrial Team has completed just in 2020 inside Sunshine State Industrial Park. Earlier in the year, the team completed two leases at 1120 NW 165th St, bringing the +/- 76,500 SF building to 100% occupancy. Additionally, they completed the sale of 1585 NW 163rd St, a +/- 31,000 SF warehouse on 2.4 Acres for $2,800,000.

The Industrial Real Estate Market in South Florida continues to be strong. There are more buyers looking for a limited inventory of properties for sale. In the third quarter of 2020, the average sale price in Miami-Dade was $157/ Sq. Ft. The market vacancy rate was 6.0%.

For more information on the transaction or for other similar buildings in our inventory, contact the Industrial Team at ComReal at 786-433-2380 or Eddison Vasquez at evasquez@comreal.com.

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