Lightstone pays $20M for Miami Gardens warehouse leased to Moishe Mana

Property last traded for $8.7M in 2017

Miami /
Jul.July 16, 2021 04:30 PM
5801 Northwest 49th Avenue in Miami Gardens and Lightstone CEO David Lichtenstein (Google Maps, Lightstone)

5801 Northwest 49th Avenue in Miami Gardens and Lightstone CEO David Lichtenstein (Google Maps, Lightstone)

Real estate investor Lightstone paid $20 million for a Miami Gardens warehouse leased to one of Moishe Mana’s companies.

Records show Lightstone, based in New York City, bought the property at 15801 Northwest 49th Avenue from Warehomes Precision.

Mana, best known for his Wynwood property and long-planned downtown Miami project, houses his GRM Information Management document storage company at the Miami Gardens site. He first leased space there in 2018.

The seller bought the property for $8.7 million in 2017. Warehomes Precision is managed by Jason and Marcos Morjain. Both are with the Miami-based real estate investment firm Rok, led by Sergio Rok.

Lightstone, founded and led by Chair and CEO David Lichtenstein, has a $6.5 billion portfolio that includes 3.5 million square feet of office, retail and industrial commercial properties; more than 15,000 residential units; and more than 4,100 hotel keys, according to its website. It also owns more than 10,000 lots in the U.S.

The 115,738-square-foot warehouse was constructed in 1985 on 5 acres, property records show.

South Florida industrial property has been trading briskly, as the market picked up during the pandemic. In another recent nearby deal, Seagis Property Group bought a Medley warehouse with cold storage space for $7.9 million in May.





    Related Articles

    arrow_forward_ios
    Longpoint Realty Managing and Founding Partner Dwight Angelini and the El Paraiso shopping center at 1700 and 1800 West 68th Street in Hialeah (LinkedIn, Google Maps, Getty)
    Longpoint picks up Hialeah shopping center for $43M
    Longpoint picks up Hialeah shopping center for $43M
    Turnberry Associates' Jackie Soffer and LeFrak's Richard LeFrak with Rendering of the Villa Laguna (Turnberry Associates, Getty Images, SoLe Mia Rentals)
    LeFrak, Soffer kick off leasing at SoLé Mia rental
    LeFrak, Soffer kick off leasing at SoLé Mia rental
    17141 Collins Ave, Sunny Isle
    Muse Residences in Sunny Isles Beach tops weekly condo sales
    Muse Residences in Sunny Isles Beach tops weekly condo sales
    Realterm Logistics CEO Robert Fordi and the vacant lot at the intersection of northwest 104th Street and northwest 95th Avenue (Realterm, Ferreira Construction)
    Medley industrial site trades for 4x its 2017 price
    Medley industrial site trades for 4x its 2017 price
    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
    From left: TRP's President Daniel Firtel, MV Real Estate Holdings' Alex Mantecon, and TRP's Brandon Johnson with 8303 SW 40th Street
    Who wants Cookies? National cannabis firm opening dispensary in Westchester
    Who wants Cookies? National cannabis firm opening dispensary in Westchester
    Bay Harbor Islands, Miami-Dade County, CMC Group, Morabito Properties, Terra, Alta Developers
    Here are the resi projects planned for Bay Harbor Islands
    Here are the resi projects planned for Bay Harbor Islands
    From left: RK Centers principal Ranaan Katz and Seritage CEO Andrea Olshan in front of the shopping center at 1460 West 49th Street in Hialeah (Google Maps, Seritage Growth Properties, RK Centers)
    Seritage flips Hialeah shopping center for $28M, banking $6M profit in hours
    Seritage flips Hialeah shopping center for $28M, banking $6M profit in hours
    arrow_forward_ios

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

    Loading...