Sunshine State Industrial Park Miami Warehouse Leased!
1120 Nw 165th St Miami, FL 33169
The Miami Industrial Team at ComReal Miami completed the lease of 35,000 Sq. Ft. to Ferrara Group at 1120 NW 165thST Miami Gardens, FL 33169. The building is +/- 75,550 Sq. Ft. on +/- 3.16 Acres.
“Sunshine State Industrial Park offers a unique location for companies serving Miami Dade, Broward and Palm Beach Counties; it has easy access to main highway, including I-95, Florida’s Turnpike and Palmetto Expressway (S.R. 826). This warehouse provides Ferrara Group the ideal location to reach their showrooms and clients” According the Edison Vasquez.
The company leasing this final space was the Ferrara Group, an international high end furniture manufacturer with presence in Italy and Venezuela. Their brand of furniture is Gio Casa (http://gio-casa.com/), and the warehouse will be their distribution center for their showrooms in South Florida.
The owner of the property, 1120 Sunshine LLC, bought this warehouse in 2013 for $4,659,058.00 ($61/Sq. Ft.) ComReal Miami represented the buyer in the purchase and now in this lease transaction. Silvia Olivera from One Sotheby’s represented the Ferrara Group.
This was the last space available at the building bringing the occupancy to 100%. This transaction further reinforces the strength of the Miami Industrial real estate market; the vacancy as of last quarter stood at 4.7%, one of the lowest in the country.
For more information on this transaction and for other properties available, contact the ComReal’s Miami Industrial Team at 786-433-2380