A family trust sold an office and retail complex in Doral for $6.6 million to investors who plan to upgrade the property.
Private equity firm ARC sold a two-story office building next to the future Jackson West Hospital in Doral for $12.05 million.
The Miami-based firm sold the 97,476-square-foot 2500 Building at 2500 Northwest 79th Avenue for $123 per square foot, according to a press release. The buyer is a company tied to Ada Valdivia of Miami.
Despite leading economists’ forecast of a coming real estate slowdown, the demand for industrial space remains strong.
Competition is fierce as investors seek to capitalize on the growth of online retail and the resulting demand for “last mile” distribution centers, snapping up the dwindling supply of industrial properties, while others get creative with adaptive reuse projects.
However, industrial acquisitions, and distribution centers, present a specific set of challenges. Proper site selection and due diligence can go a long way towards protecting your investment.