Hollywood Diagnostics Center buys Sweetwater industrial condos for $8M

Three units total 32K sf

Miami /
Sep.September 27, 2021 01:30 PM
Double Ace Cargo sells Sweetwater industrial condos for $8M

Google Street View of property at 2185 Northwest 115th Avenue in Sweetwater, Florida. (Google Maps)

Hollywood Diagnostics Center bought three industrial condo units in Sweetwater for $8 million.

Records show an entity led by Angel Soto, owner and operations manager at the Hollywood Diagnostics Center, purchased units one, two and three at 2185 Northwest 115th Avenue from Double Ace Cargo logistics company.

The units total 32,351 square feet. Constructed in 2010, the entire one-story building has 14 commercial units, according to property records. The building totals 164,000 square feet, according to CommercialCafe.

Double Ace Cargo, which lists the building as its headquarters, provides air, sea and land transport as well as cold storage, according to its website. Its CEO is Rolgues Rodriguez.

Hollywood Diagnostics Center, founded in 1984, provides imaging technology and other medical diagnostic tech, according to its website.

The deal underscores the vitality of industrial real estate over the past year and a half, in contrast with all other commercial asset classes that took a hit during the coronavirus pandemic.

In Miami-Dade County, industrial base rents increased by 9.5 percent since the onset of the pandemic, according to a second quarter report by Avison Young.

The market is fueled by a healthy demand for space, in part as a result of e-commerce growth, as well as by a shortage of developable land. The pandemic turned buyers away from brick-and-mortar stores and toward online shopping.

Industrial investment activity in the county reached $1.5 billion since the start of the pandemic, according to Avison’s report.

In some of the biggest deals, Brookfield Asset Management bought the Bristol Logistics Center in Doral for $26.3 million in June.

Also, Seagis Property Group bought a logistics company’s Doral facility for $19.4 million in September.





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