South Carolina trucking firm pays $8.5M for warehouse near Miami airport

The two-story, 10,920 sf building sold for about $774 psf

TRD MIAMI /
Jun.June 12, 2017 11:15 AM

6095 Northwest 72nd Avenue

A trucking terminal warehouse near Miami International Airport just sold for $8.45 million to Southeastern Freight Lines, a Lexington, South Carolina-based trucking company.

SEFL bought the two-story, 10,920-square-foot building at 6095 Northwest 72nd Avenue for about $774 per square foot, property records show. H Max and R Valenti Investments, a Coral Gables-based entity, sold the industrial property. It last traded for $1.7 million, or $161 per square foot, in 2000. It was built in 1968.

Last year, SEFL was the 11th largest light trucking load American carrier with a revenue of more than $1 billion, according to the American Journal of Transportation. SEFL CEO William T. Cassels Jr. and William “Tobin” Cassels III, J. R. Burleson Jr. and Edge P. Thomas bought the property under Southeastern Freight Lines, Inc., property records show.

The appetite for industrial real estate is strong in the Miami Airport West submarket due to a “scarce supply of land available to develop commercial product and the increased demand of industrial assets,” according to a first quarter report from Colliers International South Florida. The reports shows about 2 million square feet of warehouse space is under construction in Medley and Doral and will be delivered over the next two years.

The Doral area is busy with development with such projects as Codina Partners’ Downtown Doral, the Related Group and Shoma Homes’ CityPlace Doral and JQ Group of Companies and Optimus Developers’ Midtown Doral in the works.

Recent industrial developments include Flagler Global Logistics’ massive Flagler Station industrial park and Bridge Development Partners’ continuously growing portfolio of warehouse projects in South Florida.


Related Articles

arrow_forward_ios
Armando Codina and his daughter, Ana-Marie Codina Barlick and Beacon Logistics Park

Biggest private corporation in US inks lease at Beacon Logistics Park

1350 Northwest 74th Street and Andy Charry (Credit: Google Maps)

MDH Partners buys Liberty City warehouse

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

1000 Southeast 8th Street, Andrew Gurewitsch and Harry Weisman and Barry Katz

Duty Free Americas owner will have to pay taxes on this sale

690 Northwest 13 Street and Francisco Martínez-Celeiro (Credit: Google Maps, Wikipedia)

The final act: Spaghetti western star sells Overtown warehouse for $10M

Rendering of Bridge Point 595 and Kevin Carroll

Bridge Development nabs $60M loan for Davie industrial project

3208 Northwest 72 Avenue and Blackstone CEO Stephen Schwarzman (Credit: Google Maps and Getty Images)

Blackstone buys industrial portfolio near Miami airport for $56M

State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center

arrow_forward_ios
Loading...