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Miami-Dade Warehouse With Cold Storage Sells For $26 Million

Ivy Realty snagged a Miami-Dade County warehouse with cold storage for $26 million, as it continues to expand its South Florida industrial portfolio, The Real Deal has learned.

The commercial real estate investor bought the property at 6950 Northwest 77th Court from an affiliate of The Apollo Group in a sale-leaseback. The Apollo Group, a logistics provider to cruise lines, leases the entire property for its headquarters.
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PortMiami Cargo Keeps Head Above Water In Downturn

Sea cargo to and from Miami-Dade has dipped only slightly despite the coronavirus, according to PortMiami Director Juan Kuryla, who said he expects improvement through year’s end.

“Year over year and year-end fiscal 2020 … we were only 4.8% down,” Kuryla said. “That is a significant achievement considering the economic condition worldwide and considering some countries have not yet totally opened.”

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Doral’s Economy Begins To Recover

With these words, the Director for Economic Development of the City of Doral, Manuel Pila, explained why the municipality has experienced a rapid recovery after the first months of COVID 19: “We have a solid, spacious, multi-varied industrial sector and area and we are very close to Miami International Airport.”

Pila explained that similar to what has been happening nationwide, Doral has suffered the financial impacts of the pandemic. This was evident not only in the problems that restaurants, shops, hotels, and shops, in general, were having but also in the decline of applications received by the City of Doral for the opening of new businesses.

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