An affiliate of Blackstone Group purchased an industrial development site in Doral for $21 million.
Kelly Tractor Co., a local family-owned business, sold the 8.36-acre site at the southwest corner of Northwest 66th Street and Northwest 97th Avenue to B9 NW 97th Avenue Owner LLC, an affiliate of New York-based Blackstone.
Its local development partner in the project is Coconut Creek-based Butters Construction & Development.
The city recently approved the site for 600,082 square feet of warehouses. It’s on the west side of a county landfill.
This project would continue South Florida’s boom of industrial development, which is driven in large part by the growth of e-commerce. According to the fourth quarter report from Colliers International South Florida, there was 3.75 million square feet of industrial space under construction in Miami-Dade County.