ComReal Industrial Team Facilitates Two Separate Sales of Contiguous Land Parcels for $23.5 Million
The ComReal Industrial Team, led by Patrick McBride, Esq., is pleased to announce the successful sale of an 8-acre industrial site located at 6001 NW 74th Avenue in Miami near Miami International Airport. ComReal represented the seller, Davant Development Corp., in both deals.
Link Logistics, the industrial real estate arm of investment giant Blackstone, acquired the larger 6.37 acre parcel for $15,500,000. Flyers Energy, the tenant on the smaller gas station parcel, exercised their right of first refusal on the 2 acres for $8,000,000. Ultimately, the two closings resulted in a total sales price of $23,500,000 for the seller in a rising interest rate environment that has been putting downward pressure on pricing, especially for land.
This industrial property had been owned by a South Florida family for over 70 years and it was time to sell. Presented with a challenge, the Industrial Real Estate Team with ComReal took action and had unprecedented results.
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6001 NW 74th Avenue, Miami Florida - Case Study:
While Flyers Energy plans to continue to operate on the smaller parcel, the larger parcel is now For Lease. For more information regarding the 6.37 acres for lease please see our listing for 6001 NW 74th Avenue, Miami FL and contact us with any questions.
About the ComReal Miami Industrial Team: The ComReal Miami Industrial Team has been assisting companies with their South Florida real estate needs for over 30 years. The industrial team specializes in the sales and leasing of industrial properties. Visit Warehouses Market and/or call 786-433-2380 for more information.
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