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Blackstone Buys Industrial Development In Doral For $21 Million

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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.

 

Source:  SFBJ

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