Midtown Capital buys Opa-locka industrial property

Building is fully leased to 18 tenants

Miami /
Dec.December 07, 2020 10:30 AM
Midtown Capital Partners CEO Alejandro Velez and 13700 Northwest 19th Avenue, Opa-locka (Google Maps)

Midtown Capital Partners CEO Alejandro Velez and 13700 Northwest 19th Avenue, Opa-locka (Google Maps)

Miami-based Midtown Capital Partners continued its buying spree by acquiring an industrial property in Opa-locka for $11 million.

The real estate investment and asset management firm, led by Alejandro Velez, bought the 82,000-square-foot building at 13700 Northwest 19th Avenue, a spokesperson told The Real Deal. David Friedman Trust No. 13700, which is affiliated with Danron Management Inc., sold the 3.3-acre property.

Marcus & Millichap brokers Benjamin Silver and Sebastian Misiewicz represented the buyer and seller, according to a press release.

The building sold for its asking price, which represents a record for small-bay warehouse trades in the immediate area, according to the release.

Dan Handler, founder of the homebuilder GHO Homes, and Ronald Gavsie, a licensed real estate broker, are tied to the seller, records show.

The trust bought the building in 1984 for $1.6 million, according to records. It was developed in 1972 and consists of 36 warehouse spaces averaging roughly 2,200 square feet each. The building is fully occupied with 18 tenants, according to the release.

Tenants include the Universal Hood Tech sheet metal fabricators, New Life in the City Ministry and Arcelays Funeral Services, according to their websites.

In October, Midtown Capital bought a warehouse near Medley for $7.5 million and paid $22.6 million for the Miramar headquarters of an information technology company.

Recent industrial sales in Opa-locka include a cold storage warehouse facility that traded in May for $26 million.

This summer, three Opa-locka warehouses sold for about $11 million to several companies affiliated with DB Family Office Services, attorney Mark Alhadef, Sean Mirmelli and Andrew Mirmelli of M&M Parking Management.





    Related Articles

    arrow_forward_ios
    First Industrial Realty's Peter E. Baccile with 1801 North Andrews Avenue (First Industrial Realty Trust, Colliers, iStock)
    First Industrial picks up Pompano Beach manufacturing facility for $25M
    First Industrial picks up Pompano Beach manufacturing facility for $25M
    Bridge Industrial's Steve Poulos with 2200 Northeast Seventh Avenue (Bridge Industrial, iStock)
    Goodbye Park ‘N Fly: Bridge Industrial pays $20M for site of planned logistics facility near Port Everglades
    Goodbye Park ‘N Fly: Bridge Industrial pays $20M for site of planned logistics facility near Port Everglades
    Elion Partners' Shlomo Khoudari with 1121-1141 NW 31st Ave (Zillow, Shlomo Khoudari)
    Elion Partners buys Pompano Beach industrial building for $15M
    Elion Partners buys Pompano Beach industrial building for $15M
    A photo illustration of 18855 Bee Line Highway in Palm Beach County (Bastian Laggerbauer of Colliers, Google Maps)
    From tenant to owner: CTS Engines buys 44-acre industrial facility in northern Palm Beach County
    From tenant to owner: CTS Engines buys 44-acre industrial facility in northern Palm Beach County
    Cabot Properties' Franz Colloredo-Mansfeld with Miramar Centre Business Park (Cabot, iStock) Lease, Logistics
    Lease roundup: Ryder Logistics leases 150K sf at Miramar Centre Business Park
    Lease roundup: Ryder Logistics leases 150K sf at Miramar Centre Business Park
    Nuveen CEO Jose Minaya and 801 Brickell Avenue in Miami (Nuveen, Colliers)
    Lease roundup: Nuveen moving Southeast HQ to 801 Brickell
    Lease roundup: Nuveen moving Southeast HQ to 801 Brickell
    Woodmont Properties chairman Donald Witmondt and ceo Eric Witmondt (Woodmont properties, Loopnet)
    Woodmont beefs up Palm Beach Park of Commerce portfolio with $21M warehouse deal
    Woodmont beefs up Palm Beach Park of Commerce portfolio with $21M warehouse deal
    Bridge Industrial founder and CEO Steve Poulos and the development site at 4310 NW 215th Street (Bridge Industrial)
    Bridge Industrial nabs $154M construction loan for Miami Gardens project
    Bridge Industrial nabs $154M construction loan for Miami Gardens project
    arrow_forward_ios

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

    Loading...