After receiving unsolicited offers to buy its 8.6-acre industrial site in Medley last year, KDD Properties decided to list it and see how many institutional investors would line up with competitive bids.
“There were no less than 25 offers from various public and private pension funds and institutional investors,” Sky Groden of JLL, which marketed the property, told The Real Deal. “The deal ended up transacting at 25 percent higher than the unsolicited offers.”
Miami-Dade County officials could enter serious negotiations with developers to build a $1.1 billion cargo hub in a multistory building at Miami International Airport.
The Miami-Dade Airports and Economic Development Committee on Jan. 11 will consider a resolution to enter into direct negotiations with Woodlands, Texas-based CCR USA Airport Management and Scottdale, Georgia-based AIRIS USA LLC for their patented “Vertically Integrated Cargo Community” (VICC). The measure could go before the full County Commission on Feb. 1. The parties submitted an unsolicited proposal to the county in October 2020.
Doral’s commercial industrial rental rates has seen a climb to the point where multi-story vertical warehousing projects are being considered, according to local real estate experts.
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