Blackstone pays $21M for Doral industrial dev site

Deal equates to $1.17M an acre

Miami /
Jan.January 15, 2021 10:30 AM
Stephen Schwarzman with the site (Getty, Google Maps)

Stephen Schwarzman with the site (Getty, Google Maps)

A company affiliated with Blackstone Group and its Revantage corporate services company paid $21 million for about 18 acres of vacant land in Doral.

New York-based Blackstone bought the land near Northwest 99th Avenue and Northwest 66th Street, south of a landfill treatment facility, according to records. The deal equates to $1.17 million an acre.

A representative from Blackstone could not be reached for comment.

The seller is Kelly Tractor Co., an agricultural equipment dealer owned by the Kelly family. The company was founded in 1925 and is based in Miami.

Last year, Kelly Tractor received city approval to build industrial buildings on the land.

Blackstone, New York’s largest rental landlord of 2020, is led by Stephen Schwarzman. Chicago-based Revantage is led by Matt DeMonte.

Blackstone’s activity in 2020 included one of the largest industrial deals in South Florida: it’s $93.5 million purchase of 13 industrial properties in Miami-Dade and Broward counties. In Southern California, the company purchased two buildings in Van Nuys for $83 million. It also provided new debt for an 80-story, 815-unit condo tower in Two Bridges in New York last year.

Earlier this month, Blackstone signed a long-term lease in downtown Miami, cementing its planned expansion to South Florida.





    Related Articles

    arrow_forward_ios
    2100 NW 84th Street and American Tower's Tom Bartlett and Baptist Health's Brian Keeley (Google Maps, American Tower, Baptist Health)
    Baptist Health sells Doral data facility for $34M
    Baptist Health sells Doral data facility for $34M
    Codina Partners’ Armando Codina and Ana-Marie Codina Barlick with 5350 Park condo project (Codina Partners, Getty)
    Judge orders Codina Partners’ affiliate to pay Grycon $8M in damages
    Judge orders Codina Partners’ affiliate to pay Grycon $8M in damages
    State Street Realty's George Pino (State Street Realty, Getty Images)
    State Street Realty’s George Pino driver of boat in deadly Keys crash
    State Street Realty’s George Pino driver of boat in deadly Keys crash
    Cube Wynwd, Ken Griffin and a Windstar Cruiseship (Google Maps, Getty, Windstar Cruises)
    South Florida by the numbers: Headquarters heading here
    South Florida by the numbers: Headquarters heading here
    Nuveen Real Estate's Mike Sales with the Waterford Business District
    Lease roundup: Nuveen, Allianz ink 6 new tenants at Waterford Biz District
    Lease roundup: Nuveen, Allianz ink 6 new tenants at Waterford Biz District
    G6 Hospitality CEO Rob Palleschi and the Motel 6 at 825 East Dania Beach Boulevard (LinkedIn, Google Maps)
    Blackstone sells five South Florida budget hotels for $61M
    Blackstone sells five South Florida budget hotels for $61M
    Bridge Industrial's Steve Poulos and Kevin Carroll with 2200 Northeast Seventh Avenue (Bridge Industrial)
    Bridge Industrial nabs $28M construction loan for facility near Ft Lauderdale airport
    Bridge Industrial nabs $28M construction loan for facility near Ft Lauderdale airport
    7070 Northeast Third Avenue, Fort Lauderdale; Asana Partners' Terry Brown, Sam Judd and Jason Tompkins (Felipe Calderon, Asana Partners)
    Asana buys office, industrial properties in Fort Lauderdale’s Flagler Village
    Asana buys office, industrial properties in Fort Lauderdale’s Flagler Village
    arrow_forward_ios

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

    Loading...