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Miami Airport West Industrial Property Sells For Large Gain After Three Years

7200 Northwest 25th Street Miami

Webster Business Park, an industrial property just west of Miami International Airport, sold for $25 million.

COFE CIX Webster Park LLC, an affiliate of Miami-based COFE Properties, sold the 178,521 square feet of industrial buildings at 7200 N.W. 25th Street to MP Webster Park LLC, an affiliate of Boston-based AEW Capital Management.

Aerial of the park at 7200 Northwest 25th Street
Miami

The price equated to $140 per square foot.

Webster Business Park was developed on the 7.8-acre site in 1972. It consists of four buildings. The property last sold for $16.6 million in 2016. The industrial occupancy rate has climbed in Miami-Dade County and rents have increased, especially near the airport and its busy cargo operation.

 

Source:  SFBJ

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Uptick In Business And Real Estate Investment On The Way Following IRS Guidance On Opportunity Zones

With the recently released regulations governing Opportunity Zones by the IRS, Globest.com turned to Joshua Kaplan, corporate & tax partner at the Miami-based law firm Bilzin Sumberg for some guidance on Opportunity Zones and whether this federal program can make a real difference in the economy of South Florida.

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