The Industrial Team at ComReal, including Edison Vasquez, SIOR, CCIM, Chris Spear SIOR, Pat McBride, SIOR and Michaela Senior, successfully concluded the off-market sale of an industrial facility at 3201 NW 116th St in Miami, FL 33167. Positioned strategically within Seaboard Industrial Park, just South of the Gratigny Expressway. The property features a 77,430 Sq.Ft. freestanding building on 4.14 Acres. Sale price was $11,700,000. Buyer was the national investment fund Bridge Logistics Properties. At the time of the sale, the property was fully leased with a long-term agreement.
“Our team has been successful with off-market industrial buildings. The seller wanted to keep the building off-market and we were able to bring it to the right buyer. We were excited to work with Bridge Logistics on this deal; their team did an amazing job during the transaction.” said Edison Vasquez with ComReal.
The sale of this off-market property shows the continued strong demand for well-located and functional industrial buildings in South Florida. Despite interest rates staying higher for longer, capital from investors has not stopped chasing quality industrial buildings.
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The Industrial Team at ComReal specializes on the industrial properties in South Florida. For over 40 years, out team has help users and investors located the right industrial property. Contact us for more information on the market and our industrial properties.
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