The Colliers International South Florida Industrial team of Steven Wasserman and Erin Byers represented real estate investment firm Elion Partners in the recent acquisition of a Doral industrial property, expanding the firm’s strategic footprint in South Florida.
The property, located at 2875 NW 77th Ave. in Doral, includes a 59,135-square-foot building fronting the Palmetto expressway, was purchased for $7.23 million from seller Pola’s Enterprises.
Elion also picked up an industrial property at 3400 Park Central Boulevard N. in Pompano Beach, a 43,000-square-foot building, for $4.15 million from seller KEI Properties, LLC.
The deals are indicative of the ongoing interest from institutional investors making strategic investments in industrial product, with a particular focus on South Florida. High barriers to entry such as limited land availability have forced investors to move swiftly, with the heightened demand for space especially evident in Miami-Dade County, as a colossal 1.27 million square feet of industrial space was absorbed during 2Q 2018.
The Colliers team has partnered with Elion Partners on transactions in the past and is actively in the market with Elion Partners seeking new opportunites for industrial investment in South Florida.