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The Real Deal Miami

Aventura Business Park sells for $17.3 million

By Alexander Britell | January 24, 2013 06:00PM

Aventura Business Park

Aventura Business Park in Aventura has sold for $17.3 million, The Real Deal has learned.

The 203,567-square-foot industrial warehouse park sold for an average of $85 per square foot, according to Marcus & Millichap.

The buyer was San Francisco-based real estate investment firm Bristol Group, while the seller was MP Ives, a limited liability company that is based in Arizona, according to data from the Miami-Dade County Property Appraiser’s office.

Douglas Mandel, vice president for investments at Marcus & Millichap’s Fort Lauderdale office, represented the buyer and the seller.

The property, which is located just off I-95 and Ives Dairy Road, was first built in 1989. It consists of three buildings in total.

The park is located at 20725 NE 16 Avenue in Aventura.