The Industrial Team at ComReal completed a record sale for a building inside Sunshine State Industrial Park. Highest Price per SF. Building is located at 1100 NW 163rd Dr Miami, FL 33169. This building consists of +/- 23,331 SF freestanding on +/- 1.10 Acre. The building was formerly used as a specialized data center, offering heavy power, fully A/C space, 3 backup generators and fully secured facility. The Seller was AINA Holdings, LLC which owned the property for almost 20 years. The Buyer is 1100 BM Investments, LLC. The sale price was $3,200,000, $137/SF, highest price per SF sale in the park.
This size of this building is ideal for multiple users and unique in this market. These freestanding industrial buildings are nearly impossible to replicate due to the high cost of construction and land shortage. Reasons they command high sale prices. Additionally, being inside Sunshine State Industrial Park, offers excellent location with easy access to Golden Glades interchange to reach Broward and Palm Beach Counties. The industrial park is home for many companies, including Imeca, Quantum Storage Systems, Southern Glazer’s Wine & Spirits, Amazon, PCA, and many others. Businesses in the Park appreciate its features and like to stay for a long time.
This sale is a perfect example of the strong demand for industrial buildings in Miami. Hard to find building selling for record price. The building was offered for sale and lease and we had strong activity. Multiple offers to purchase offering the owner strong options. - Edison Vasquez from ComReal.
This sale adds to the long list of transaction the Industrial Team has completed in inside Sunshine State Industrial Park. Last Summer, the team completed the sale of 1585 NW 163rd ST, a +/- 31,000SF on 2.4 Acres for $2,800,000. Two leases at 1120 NW 165th St. Sale of 16215 NW 15th AVE Miami, FL 33169, +/- 63,683SF on 3.15 Acre for $6,000,000.
The Industrial Real Estate Market in South Florida continues to be as strong as ever. Limited inventory of buildings keeps pushing prices higher to record numbers. In the first quarter of 2021, the average sale price Miami Dade was $161 Sq. Ft. The market vacancy rate was 4.6%
For more information on the transaction or for other similar buildings in our inventory, contact the Industrial Team at ComReal at 786-433-2380 or evasquez@comreal.com.
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 www.MiamiIndustrialTeam.com and/or call 786-433-2380 for more information.
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