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
    Lease roundup: Slalom opens first South Florida office in Wynwood, 10 tenants sign at 800 Brickell
    Lease roundup: Slalom opens first South Florida office in Wynwood, 10 tenants sign at 800 Brickell
    Lease roundup: Slalom opens first South Florida office in Wynwood, 10 tenants sign at 800 Brickell
    3750 West 16th Avenue in Hialeah (Courtesy of RG Property Group)
    KEI Properties buys Hialeah office-retail property for $8M
    KEI Properties buys Hialeah office-retail property for $8M
    Entrepreneur Adam Arviv pays $8M for Palazzo Della Luna unit
    Entrepreneur Adam Arviv pays $8M for Palazzo Della Luna unit
    Entrepreneur Adam Arviv pays $8M for Palazzo Della Luna unit
    Developer Jeff Greene and Dalfen Industrial CEO Murray Dalfen with the complex at 1501 Meathe Drive (Dalfen, CBRE)
    Billionaire Jeff Greene sells West Palm Beach industrial complex for $61M
    Billionaire Jeff Greene sells West Palm Beach industrial complex for $61M
    Fortune International Realty’s former Miami office sells for $8M
    Fortune International Realty’s former Miami office sells for $8M
    Fortune International Realty’s former Miami office sells for $8M
    10100 Northwest 25th Street in Doral, Florida and Seagis Property Group's Bradlee Lord (Google Maps, Cornell)
    Seagis Property Group buys logistics firm’s Doral facility for $19M
    Seagis Property Group buys logistics firm’s Doral facility for $19M
    Clayco affiliate picks up Miramar Park of Commerce for $18M
    Clayco affiliate picks up Miramar Park of Commerce building for $18M
    Clayco affiliate picks up Miramar Park of Commerce building for $18M
    A unit in Continuum South Beach was the top sale last week (Luxhunters for ONE Sotheby’s International Realty)
    Tech entrepreneur’s purchase of Continuum unit leads Miami-Dade weekly condo sales
    Tech entrepreneur’s purchase of Continuum unit leads Miami-Dade weekly condo sales
    arrow_forward_ios

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

    Loading...