The Real Deal Miami

Prologis makes $4.7M industrial deal

Property was not on the market before Gold Coast sold the building
May 12, 2014 03:45PM

7007 NW 30th Street in Miami

7007 NW 30th Street in Miami

Prologis has picked up a 77,000-square-foot industrial building for $4.7 million.

The seller was Gold Coast Beverage Distributors, and Easton Group’s Michael Waite and Jim Armstrong represented both parties in the transaction. The building is located at 7007 NW 30th Street in Miami, according to GlobeSt.

“Considering that Gold Coast was settled in a new location, we figured they would entertain the idea of selling their building, so we approached them about it and they were interested,” Waite told GlobeSt. “We then identified an institutional investor that owns several other industrial properties in the area to see if they were interested in buying and they were.”

Gold Coast moved its operations some five years ago and has been leasing out the property. [GlobeSt]Christopher Cameron