A building at Flagler Station, South Florida’s largest business park, has traded hands for the second time in six months.
Vero Beach-based Dunnagall Partners paid $11.25 million for the industrial building at 10325 Northwest 112th Avenue in Northwest Miami-Dade. The seller was G&I VIII Flagler 1900 LLC, an affiliate of New York-based DRA Advisors, according to a published report.
The price equates to $327 per square foot for the 34,437-square-foot building, which was constructed in 2009, the South Florida Business Journal reported.
In July, DRA Advisors paid $131.7 million to acquire six buildings, including this one, from Flagler Global Logistics. That worked out to $179 per leasable square foot. The price of the individual buildings wasn’t released since it was a single deed, the South Florida Business Journal said.
In the latest purchase, Dunnagall Partners received a $7.88 million mortgage from Mercantil Commercebank. [South Florida Business Journal] — Ina Cordle