out-of-state real estate investment firms. ABR Capital and East Capital Partners acquired two four-story office buildings and six industrial warehouses. The seller, an affiliate of Miami-based Cofe, paid $7.8 million for the 7.7-acre property in 2017.
Located in Miami’s Doral submarket, the building sits on approximately 4.74 acres near the intersection of Florida State Road 826 and Florida State Road 836, just three miles west of Miami International Airport and five miles east of the Florida Turnpike.
The buyer of all three deeds was Southeast Commercial LLC, an affiliate of Salt Lake City-based Property Reserve. Industrial rent has surged in Miami-Dade County in recent years, so new warehouses have often sold for a premium.
Seeking massive warehouse portfolios, institutional buyers dominated the top five largest industrial deals in South Florida in 2023.
Miami-based Banco do Brasil Americas provided the mortgage to Flightway Ten. It covers the five-acre site at 6175 N.W. 102nd Ave. The developer purchased the property for $3.9 million in 2014 and was approved for 60,941 square feet of warehouses and 10,689 square feet of retail.