Agora Real Estate Group President and Commercial Advisor Elias G. Patsalos, CCIM, along with colleague Michal Bibr, recently negotiated the sale of an industrial property at 8242 NW 70th Street in Doral.
World Freight Logistics (WFL) paid $2,400,000 for the property, equating to $212 per square foot.
Patsalos and Bibr represented the seller, VALPART ENTERPRISES LLC, in the deal. Lina Alarcon of Investeam Realty represented the buyer.
The deal closed September 28.
“We had tremendous activity from local and out of state buyers due to the shortage of industrial properties,” explained Patsalos. “Interested parties were from various sectors including aviation, produce, manufacturing and/or logistics to name a few. Airport West continuous to be very active due to its proximity to the Miami Airport. The demand for industrial product is at an all time high with little to no options to purchase. We were able to achieve 212 psf for our seller thanks to a clean/functional and hard to find free standing industrial property.”