Cushman & Wakefield has arranged the sale of a 51,392-square-foot industrial facility on ±4.4 acres at 7480 NW 48th St. in Miami.
The final sale price was $14.75 million.
Cushman & Wakefield’s Wayne Ramoski and Miguel Alcivar represented the seller, DFJ Properties West, LLC, in the transaction. The property was acquired by RLIF East 5, LLC.
“Buyer activity on this property was extremely active, reinforcing the interest in Miami’s Airport submarket and in facilities providing a larger land component,” said Ramoski. “The 7480 NW 48th St. facility is a high-quality industrial asset with in-place cash flow and one of the many transactions we were able to conduct with the seller over the past 25 years.”
Sitting on more than four acres, 7480 NW 48th St. is a warehouse/showroom property that is fully leased by Ferguson Enterprises. The facility is situated on two lots offering a variety of future industrial and commercial uses in South Florida’s highly valued airport submarket.
7480 NW 48th St. includes 23.75’ clear heights, more than 50 striped parking spaces, and near immediate access to Miami International Airport. The property is also currently zoned for IU-2 for industrial and heavy manufacturing use.