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The Real Deal Miami

High Property buys Miami distribution center for $1.275M

July 22, 2011 03:41PM

High Property Group has purchased an 8,885-square-foot industrial building at 10825 Northwest 33rd Street in Miami from A de Q Holdings for $1.275 million, according to CB Richard Ellis, which represented the buyer in the transaction. High Group, a computer component distributor, plans to occupy the space.

“The purchaser… needed to expand their South Florida operations immediately,” said Devin White, vice president at CBRE’s the Miami office. “While many transactions in the market have been lateral moves, High Export’s requirement for additional space is just another example of the improving market conditions.”

The warehouse and distribution facility includes two stories of office space and a single-story warehouse.

White, and a team including Ronald Marrero and David Albert, represented the buyer along with the Katsikos Group. A de Q was represented by Flagler Real Estate Services. — Katherine Clarke