Two-building industrial property in Miami sells for $10.4M

A limited liability company led by Alan P. Matthews and John Matthews paid $211 per square foot to buy the property on North Miami Avenue

Miami /
Aug.August 11, 2018 10:00 AM

7101 North Miami Avenue (Credit: LoopNet)

A two-building industrial property in the West Little River neighborhood of Miami has been sold for $10.4 million.

The buyer paid $211 per square foot for the buildings at 7101 North Miami Avenue and 7111-7119 North Miami Avenue, which span a total of 49,260 square feet.

The new owner is 7101 N. Miami Ave. LLC, managed by Alan P. Matthews and John Matthews. The seller was Miami-based 170 NE 40 Street Inc., managed by Steve Rhodes.

Constructed in 1972 and 1974, the industrial buildings occupy a 1.64-acre site. The 34,420-square-foot building on the south side of the site last sold in 2006 for $2.6 million, and the previous sale price in 2012 for the 14,480-square-foot building on the north side was $750,000.

Tony Cho, Jack Conrad and Andres Nava of brokerage firm Metro 1 represented both the buyer and the seller in the transaction.

The seller also was represented by attorneys James Marx and Steven Rosenthal. [South Florida Business Journal] – Mike Seemuth


Related Articles

arrow_forward_ios
Seagis' Bradlee Lord with 10900 Northwest 138th Street (Seagis Property Group, iStock)
Seagis doubles down in Medley, paying $24M for two industrial facilities
Seagis doubles down in Medley, paying $24M for two industrial facilities
 EverWest Real Estate Investors’ Rick Stone with  635 Northwest Fourth Ave (LinkedIn, Loopnet)
EverWest pays $14M for Fort Lauderdale industrial property
EverWest pays $14M for Fort Lauderdale industrial property
Seagis Property Group's Bradlee Lord and 13399 Northwest 113th Avenue Road in Medley (Google Maps, Seagis)
Outdoor storage demand keeps on truckin’: Seagis pays $15M for trailer parking lot in Medley
Outdoor storage demand keeps on truckin’: Seagis pays $15M for trailer parking lot in Medley
Lease roundup: BH3’s Fabrick project in Fort Lauderdale’s Progresso Village fully leased
Lease roundup: BH3’s Fabrick project in Fort Lauderdale’s Progresso Village fully leased
Lease roundup: BH3’s Fabrick project in Fort Lauderdale’s Progresso Village fully leased
From left: Dave Benson of Morningstar Properties; Tim Petrillo of Urban Street Development; 125 Northwest Fourth Street in Fort Lauderdale (Urban Street Development, Morningstar Properties, Google Maps)
Morningstar pays $30M for self-storage facilities in Fort Lauderdale’s Flagler Village
Morningstar pays $30M for self-storage facilities in Fort Lauderdale’s Flagler Village
Link Logistics' Luke Petherbridge (Link Logistics, Calder Casino, iStock)
Take two: Blackstone affiliate proposes industrial complex with movie studio at Calder’s horse racing track
Take two: Blackstone affiliate proposes industrial complex with movie studio at Calder’s horse racing track
CenterPoint Properties' Bob Chapman with 17707 Northwest Miami Court (Platformreverecre, Google Maps)
CenterPoint picks up Miami Gardens truck storage facility for $47.5M
CenterPoint picks up Miami Gardens truck storage facility for $47.5M
Elion Partners managing partner Shlomo Khoudari and the property at 3000 and 3060 Southwest Second Avenue in Fort Lauderdale (Colliers, Elion Partners)
Elion buys two Fort Lauderdale industrial buildings for $15M
Elion buys two Fort Lauderdale industrial buildings for $15M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...