GCP pays $16M for Doral warehouse

Miami /
Nov.November 06, 2020 04:45 PM
1910 Northwest 97th Avenue, Doral and GLP's Alan Yang (Google Maps)

1910 Northwest 97th Avenue, Doral and GCP’s Alan Yang (Google Maps)

UPDATED, Nov. 9, 5:25 p.m.: A family that owns an international logistics company sold a Doral warehouse for $16.2 million.

The Rincón family, which owns and operates the Clover Group, sold the 100,000-plus-square-foot building at 1910 Northwest 97th Avenue, according to records.

The buyer shares a Santa Monica address with GLP Capital Partners, or GCP, an investment firm that specializes in logistics properties. The company is led by Alan Yang, the former chief investment officer of Singaporean global investment manager GLP. GLP is an investor in GLP Capital Partners.

Jose Sasson-Lerner with Axiom Capital Advisors represented the buyer in the deal. Stephen DiGiacomo, Roger Zuniga and Patty Marquez with DiGiacomo Group represented the seller.

The building was built in 1979. It includes 24-hour security gate and 29-foot ceiling heights, according to an online listing.

The Rincon family bought the building in 1996 for $4.7 million, according to records.

Clover Group was founded in 1964 in Venezuela. The company has offices in the Netherlands, China, Brazil and Panama, according to its website.

In 2019, Blackstone Group bought $18.7 billion of warehouse assets across the U.S., one of the largest industrial real estate deals in history, from GLP.

That year, GLP co-led real estate tech firm VTS’ $90 million Series D funding round.

In April, GLP closed a new fund, GLP China Income Fund I, with a total investment capacity of about $2.1 billion in assets under management, according to a press release.

Other recent industrial deals in Miami-Dade County include a 160,000-square-foot warehouse in Hialeah that sold for $13.1 million and a warehouse near Medley that sold for $7.5 million.






    Related Articles

    arrow_forward_ios
    Shlomo Khoudari and Justin Bennett with 3141 Southwest 10th Street in Pompano (Google Maps)

    Shifting gears: Elion Partners pays $12M for Pompano Beach auto parts distribution center

    Shifting gears: Elion Partners pays $12M for Pompano Beach auto parts distribution center
    Frank Trelles and 5980 Miami Lakes Drive, Miami Lakes (Credit: Google Maps)

    From underwear to surgical masks: Isaco sells Miami Lakes warehouse for $15M

    From underwear to surgical masks: Isaco sells Miami Lakes warehouse for $15M
    PGIM Real Estate CEO Eric Adler (left) and Bridge CEO Steve Poulos with a rendering of the cold storage facility  (Photos via PGIM; Bridge; Ware Malcolm)

    JV developing Hialeah spec cold storage facility lands $67M construction loan

    JV developing Hialeah spec cold storage facility lands $67M construction loan
    Rich Hume and Joseph Badia with 2200 Northwest 112th Avenue in Sweetwater (Google Maps; Tech Data; Twitter/BadiaSpices)

    Adding flavor: Badia Spices pays $44M for Sweetwater warehouse

    Adding flavor: Badia Spices pays $44M for Sweetwater warehouse
    Miguel Alcivar, Wayne Ramoski, Gian Rodriguez, Dominic Montazemi and Skylar Stein of Cushman & Wakefield

    MG3 buys former Miami Herald printing facility for $12M

    MG3 buys former Miami Herald printing facility for $12M
    Clockwise from top left: 1801 NW 82nd Ave, Miami; 6600 Congress Avenue, Boca Raton; 501 103rd Avenue, Royal Palm Beach; 3423 McIntosh Road, Hollywood (Google Maps)

    South Florida industrial market shows signs of weakness in Q3

    South Florida industrial market shows signs of weakness in Q3
    Itai Kathein and Jay Adair with the distribution center on the property (Credit: Google Maps)

    Sold! Online auto auctioneer pays $35M for Homestead land

    Sold! Online auto auctioneer pays $35M for Homestead land
    Mayor Bud Scholl and EverWest CEO Rick Stone with 1101 East 33rd Street, Hialeah (City of Sunny Isles Beach, EverWest)

    Sunny Isles mayor sells Hialeah warehouse for $13M

    Sunny Isles mayor sells Hialeah warehouse for $13M
    arrow_forward_ios

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

    Loading...