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Medley Industrial Site Trades For 4X Its 2017 Price

9455 Northwest 104th Street 1200x600

A 4-acre industrial site just sold for more than four-times what it last traded for five years ago.

An affiliate of Maryland-based Realterm Logistics paid $15 million for two properties at 9455 Northwest 104th Street in the western Miami-Dade town, records show. The lots include two 6,500-square-foot structures, one an office building and the other a warehouse, as well as a truck yard.

The seller, New Jersey-based contractor Ferreira Construction, bought the two properties for just $3.7 million in 2017, records show.

CBRE’s Nicolas Palazzo and Andrew Fernandez brokered the deal, according to a press release, which said the Realterm affiliate also retained Palazzo and Fernandez to lease the property.

 

Source:  The Real Deal