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State Street Realty Negotiates Record PSF Sales Price For Free-Standing Warehouse In Doral

State Street Realty, a Miami based brokerage and advisory firm, closed the sale of a 29,000-square-foot industrial property in Doral, located at 9590 NW 25 Street.

The transaction is valued at $5.6 million, or at $193 per square foot, marking a new benchmark for the highest per-square-foot sales price for a free-standing warehouse above 20,000 square feet, according to a release.

The Buyer, Church of Jesus Christ the Almighty, Inc., was represented by Diego Jonathan Aguero of Florida Real Estate Experts.

State Street Realty President George Pino, SIOR, Vice President Frank Trelles, SIOR and Associate Brian Cabielles represented the Seller, Granite Capital Investments, in this transaction.

Granite Capital Investments is a value-add real estate investment firm in South Florida properties and the principals are Tony DeRosaand Phyllis McHenry.

Trelles stated, “This was a very unique transaction. Even though this is an industrial property, it also has a retail component because it is situated on a major and highly-traveled road (NW 25 Street) in Doral. Our Team had to think outside the box and get creative to find the right buyer.”