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The Real Deal Miami

Genet entity pays $9 million for six-building industrial portfolio in Miami

December 03, 2012 01:30PM

10700 SW 188th Street

Maksanim, an entity controlled by the Genet Property Group, has paid $9 million for a 220,000-square-foot portfolio of six industrial buildings in Miami, according to CBRE, which marketed the asset on behalf of seller Sarahs Canal Co. The buildings, which were built between 1972 and 1984, consist of 138 units. They’re located at 10510 SW 185th Terrace; 10700 SW 188th Street; 10918 SW 188th Street (two buildings); and 10715 and 10755 SW 190th Street. CBRE’s Miguel Alcivar said the area has “strong growth projections and is poised to benefit from a rebounding economy and housing market.” Alcivar was joined by CBRE’s Scott O’Donnell on the deal. CBRE industrial specialists Devin White, David Albert and Andrew Lehrer assisted as leasing advisors on the deal. — Alexander Britell