South Florida Commercial Real Estate Gets Boost from Sale of Two Multi-Million Dollar Warehouses

by Isaac Benmergui, Esq on February 5, 2013

Sunset skylineSouth Florida’s commercial real estate market recently got a boost from the sale of two multi-million dollar warehouses. Miami’s 52,000 square foot Medley warehouse on 107 Avenue sold for $3,750,000 ($66.96 per square foot). The structure contains 9,000 square feet of offices in two stories and eight truck bays.

The second warehouse, located in Doral, is a 25,000 square foot structure at 11475 NW 39 that sold for $2,600,000 ($104.00 per square foot). Built in 2005, it contains 5,000 square feet of office space and 20,000 square feet of warehouse space with five dock height doors and two truck wells.

Warehouse space is at a premium in South Florida at the moment as improvements to the coastal shipping docks continue, and companies look for available space. It’s a seller’s market with available space snatched up many times before it’s advertised as available. Commercial realtors expect warehouse demand to remain strong throughout 2013.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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