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

TRD 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
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

Tony Cho, Andres Nava and Valerio Morabito with 2143 Northwest First Avenue

Developer Valerio Morabito enters Wynwood market with $9M acquisition

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

Blackstone buys industrial portfolio near Miami airport for $56M

Public Storage CEO Ronald Havner (Credit: Twitter)

Public Storage picks up industrial portfolio in Miami-Dade for $63M

Shoemaker lists Wynwood assemblage for $16M

Shoemaker lists Wynwood assemblage for $16M

JPMorgan Chase Bank lends $36M for Pompano Beach industrial development

JPMorgan Chase Bank lends $36M for Pompano Beach industrial development

arrow_forward_ios