Here’s what sold between $1M and $8M this week

Retail space in Miami and an industrial yard in Deerfield Beach

Jul.July 23, 2015 01:30 PM

Doral office building trades for $3.2M

The offices at 9300 Northwest 25th Street in Doral

A two-story office building in Doral was just sold to a group of investors for $3.2 million.

The property, at 9300 Northwest 25th Street, is the 25th Street Executive Building. It has 24,430 square feet of space and spans nearly 1 acre.

The owner, a company titled Executive Building, is managed by Horacio Alonso and Monica Kanesic de Alonso. Their address leads back to the Majestic Towers condo complex in Bal Harbour, according to Miami-Dade County property records.

They sold the building to 9300 Forza Real Estate Holdings. That company shares an address with Florida and South America Holdings, managed by Diego Ribadeneira, Daniela Ribadeneira and Georgina Menendez.

The last recorded sale price for the building, which was constructed in 1987, was $2.4 million. A listing for the property describes it as a flex building, with possibilities for both a showroom and warehouse or professional offices.

A street-side shot of the now-closed Deerfield Builder’s Supply

Deerfield lumber yard sells for $2.55M

A former lumberyard and rebar plant in Deerfield Beach was recently sold for $2.55 million.

Once known as the Deerfield Builders Supply, the five-acre property was home to a family run industrial business that had operated for the past 66 years.

It was taken over by CenterState Bank of Florida late last year after it fell into foreclosure.

The new owner, a company titled Stor-All 2nd Ave., is managed by Public Storage — a real estate investment trust based in California.

Greg Milopoulos and Joseph Byrnes of Berger Commercial Realty

Berger Commercial Realty, which represented the landlord for this deal, said in a release that the site will be redeveloped. Berger’s Joseph Byrnes and Greg Milopoulos brokered on the deal.

“We feel this asset was a great acquisition for Stor-All in a market with virtually no REO opportunities remaining” said Milopoulos in a statement. “Both parties were great to work with through this process and we look forward to seeing the project get started.”

Miami retail center sells for $1.15M

The La Bamba restaurant, one of the lessees in the retail center at 4401 Southwest 74th Street in Miami

A bank-owned retail center in Miami was just sold for $1.15 million.

Located at 4401 Southwest 74th Avenue, the property consists of two buildings constructed in 1987. Combined, they measure 12,182 square feet.

Commercial brokerage Colliers International represented the seller, a company that’s tied to the United of Omaha Life Insurance Co.

Colliers said the property was in foreclosure when it sold, and the price equates to $94 per square foot.

The center is home to La Bamba restaurant, a check cashing company, and an auto mechanic.

Achikam Yogev of Colliers International

“With this retail center being fully leased and in a high-traffic area, it was a value purchase at below replacement value,” said Colliers agent Achikam Yogev in a statement. “In fact, we are still continuing to see REO properties on the market as more lenders are shedding their assets.”

The buyer is the MST Corporation, a metalworking company based in Oregon.

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Here’s what sold between $1M and $10M this week

Movers & Shakers

Sun Sentinel

Sun Sentinel to lease 15K-square-foot flex space