The ComReal Industrial Team, led by Edison Vasquez, SIOR, CCIM, is pleased to announce the successful sale of a refrigerated warehouse located at 21150 SW 167th Ave, Miami, FL, in the heart of Miami-Dade County’s Redland agricultural area. The property includes a ±55,600 SF building inclusive of ±23,600 SF of refrigerated, cold-storage space, on a ±4.36-acre lot. This is one of the few industrial facilities close to Homestead area.
“Our team has long specialized in cooler and freezer properties, actively connecting with users in the food business and cold storage sector,” said Edison Vasquez.
The sale of this distribution facility underscores the ongoing demand for industrial properties in Miami, particularly among owner-users. Food-related businesses and other industrial operators continue to expand in South Florida, driving interest in limited available properties. Additionally, strong bank lending has enabled buyers to secure financing at competitive rates, allowing them to outbid investors and acquire buildings that best suit their operational needs. Southern Miami-Dade County continues to also attract investment activity from developers such as EastGroup Properties and Berkowitz Development Group, amongst others.
“Our team has long specialized in cooler and freezer properties, actively connecting with users in the food business and cold storage sector,” said Edison Vasquez. “We originally sold this property in 2017, and now we had the opportunity to sell it again—this time to another food-related owner-user. Through our targeted marketing efforts, we’re able to reach the right buyers. In today’s market, refrigerated facilities are becoming increasingly difficult to find, making them a valuable long-term investment.”
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South Florida’s industrial real estate market continues to outperform national averages, with Miami-Dade County leading the way. While rising interest rates may impact investment properties, owner-user demand remains strong. In the fourth quarter of 2024, Miami-Dade’s industrial vacancy rate stood at 5.1%, with average rental rates climbing to $20.41 per square foot gross. The average sale price in the county reached $258 per square foot, reflecting the region’s strong market conditions.
About ComReal
Founded in 1979, ComReal is a leading industrial real estate firm with a proven track record of facilitating high-value transactions. The ComReal Industrial Team specializes in representing sellers, buyers, landlords, and tenants in the industrial real estate market, leveraging deep industry knowledge and a strategic approach to achieve outstanding results. The team’s specialties encompass a wide range of industrial real estate, including, dry and refrigerated warehouses, manufacturing facilities, rail served buildings, industrial outdoor storage (IOS) and foreign trade zone warehouses.
ComReal Contacts:
Edison Vasquez, SIOR
305-401-1085
Chris Spear, SIOR
305-807-7662
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