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Off-Market Warehouse In Doral Sells For $26.3M

CBRE Senior Vice President Larry GenetExecutive Vice President Tom O’Loughlin , Executive Vice President Jose Lobón, Vice Chairman Christian Lee and Senior Associate Jake Zebede represented Brookfield Asset Management in the purchase of Bristol Logistics Center, a 145,260-square-foot distribution facility located at 1900 NW 92nd Ave within Fingerlakes Industrial Park in Miami.

The property sold for $26,300,000.  No other brokers were involved in the transaction.

The 1982-built facility is situated on an oversized lot totaling 8.31 acres which includes excess trailer parking. The facility is fully sprinklered and offers 26’ clear heights, dock high and drive in ramp loading, 2,000 amps of 3 phase power and up to 10,000 square feet of renovated office space.

“We were fortunate to bring Bristol Group such a quality buyer in Brookfield Asset Management,” commented Genet. “The two parties worked extremely well together and were able to close the deal almost seamlessly. There is 96,620 square feet of space currently available. We look forward to securing a quality tenant for Brookfield.”  

The former tenant, H Gregg, is in the process of vacating. The second building tenant, Planet Air, remains in 45,000 square feet on a long-term lease.

The Genet – O’Loughlin team recently sold another off-market deal in the heart of Doral. It was a 24-acre industrial development site purchased by Modlo located at 7777 Northwest 41 Street, a former Pepsi bottling plant. The team is now leasing the under construction three-building project with Devin White and David Albert of CBRE.


Source: CRE-sources