The ComReal Industrial Team, led by Edison Vasquez, completed an off-market sale of an industrial property located in the City of Doral within Miami-Dade County. The property is located at 8850 NW 15th ST Doral, FL 33172 and featured +/- 32,000SF on +/- 1.30 Acres. This great freestanding building has a superb location with proximity to Miami International Airport and easy access to all main highways. This was the first time this building has ever been sold; it has always been owned by the same ownership since being built. The Seller was Saval Doral Property, LLC. The Buyer is Seagis Property Group, LP. The Industrial Team at ComReal will continue helping the new ownership with the leasing.
The size and location of this building are attractive to multiple industrial users in the strong industrial real estate market. Offering spaces from 10,000SF and up, they fit the needs from businesses that operate in the area and service Miami International Airport. This property was originally built for a business owner and over the years evolved into a multitenant building. Built efficiently to accommodate multiple uses throughout the years. Additionally, the building offers an excellent location at less than 3 miles to Miami International Airport; easy access to major highways, including SR 826 (Palmetto Expressway), SR 836 (Dolphin Expressway). Inside the City of Doral, this property is a great asset to new owners.
This off-market sale is another example of the high demand for industrial buildings in South Florida. Our team has serviced the Seller for decades, on the leasing side; Owners saw the time to Sell given the high prices. We procured the right buyer that provided the Seller with a quick process and the certainty of closing. Buyer got a unique asset directly from original Owners; nearly impossible to find in this market!!” said Edison Vasquez with ComReal.
The industrial real estate market in South Florida continues its strong growth outpacing the national industrial average. The limited inventory of buildings continues to push sale prices and corresponding rents to record numbers. In the third quarter of 2021, the average sale price in Miami-Dade was $182 Sq. Ft. The market vacancy rate was 3.1%
For more information on the transaction, leasing space that building, or for other similar buildings in our inventory, contact the Industrial Team at ComReal at 786-433-2383 or email@example.com