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Blackstone Buys Industrial Development In Doral For $21 Million


An affiliate of Blackstone Group purchased an industrial development site in Doral for $21 million.

Kelly Tractor Co., a local family-owned business, sold the 8.36-acre site at the southwest corner of Northwest 66th Street and Northwest 97th Avenue to B9 NW 97th Avenue Owner LLC, an affiliate of New York-based Blackstone.

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Blackstone Picks Up $94 Million Worth Of Industrial Properties From Elion Partners

Investment giant Blackstone paid a combined $45.9 million to Elion Partners for five warehouse properties in Broward County. However, a source with knowledge of the deal said the transactions included eight properties in Miami-Dade. When considering all properties in Miami-Dade and Broward counties, the total price was $93.5 million.

The deal shows there remains strong demand for industrial real estate in South Florida as occupancy rates are high. North Miami Beach-based Elion Partners acquired these warehouses in 2018 and 2019, and the new sale prices were significantly higher than the previous deals.

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