Here are South Florida’s top industrial sales in April

Top sale is for a former industrial property that will become a mixed-use project

TRD MIAMI /
May.May 24, 2019 03:30 PM
201 Northwest 21st Street and 210 Northwest 22nd Street

201 Northwest 21st Street and 210 Northwest 22nd Street

Wynwood assemblage – Sarkis Izmirlian | $26M

A billionaire hotelier based in the Bahamas has turned his sights to Miami, paying $26.4 million for an assemblage in Wynwood with plans to build a mixed-use project.

Sarkis Izmirlian, the original developer of Baha Mar in the Bahamas, bought the properties at 201 Northwest 21st Street and 210 Northwest 22nd Street in Miami through a Delaware company, Miami Development 2122 Trustee, Inc.

The seller is Sam Herzberg, whose real estate investment firm, The Sterling Building Inc., includes Richard Do and David Herzberg.

7200 Northwest 25th Street

7200 Northwest 25th Street

Webster Park – AEW Capital Management | $25M

Boston-based AEW Capital Management bought four warehouses at 7200 Northwest 25th Street for $25 million, records show.

Miami-based Cofe Properties sold the 178,521-square-foot property for $140 per square foot. The warehouses are part of a complex known as Webster Park that was built in 1972.

In 2016, records show Cofe Properties purchased the warehouses for $16.6 million. The most recent sale represents a 50 percent increase from the last sale price.

1051 Commerce Parkway

1051 Commerce Parkway

1051 Commerce Parkway – WPT Industrial REIT | $9M

Toronto-based WPT Industrial REIT bought an industrial park right off the Florida Turnpike for $9.4 million.

The property at 10501 Commerce Pkwy is 100 percent leased to tenants that include FedEx Ship Center and Miramar Appliance Repair, according to a press release. The seller was CalSTRS.

The purchase was part of a $226 million portfolio acquisition of 13 properties and three land parcels across the country, which totaled roughly 2.2 million square feet of industrial space.

Mangonia Park industrial park – Alliance HSP | $9M

Alliance HSP paid $8.7 million for an industrial property just outside of West Palm Beach.

The company bought the 6-acre industrial park at 1601 Hill Avenue for $1.45 million per acre. A company tied to Gaeta Limited Partnership of Palm Beach Gardens bought the property in Mangonia Park. It was built in 1975.

Pompano Beach warehouse – Jackson Land Development | $7M

Jackson Land Development bought a warehouse in Pompano Beach for $7 million.

A company tied to Allen Prince and Gordon Ditzel sold the 72,900-square-foot industrial property at 1411-1461 Southwest 31st Avenue to Jackson Land Development, which is based in Pompano Beach.

The property, near the Fort Lauderdale Executive Airport and close to Powerline Road, sold for $96 per square foot.


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