ComReal sells Doral industrial facility for $18M

Aventura real estate investor Sebastian Guejman bought the 80K sf warehouse

ComReal Sells Doral Industrial Facility For $18M
ComReal's Stephen Smith and 9000 Northwest 15th Street in Doral (Loopnet, ComReal, Getty)

ComReal sold a warehouse in Doral for $17.5 million to Aventura-based real estate investor Sebastian Guejman.

An entity managed by Guejman acquired Lakes Edge Innovation Center, an 80,158-square-foot industrial facility at 9000 Northwest 15th Street, records and Vizzda show. 

The deal breaks down to $218 a square foot. Guejman’s entity took out a n $11 million mortgage with Banesco USA. 

David Wigoda with CBRE represented the seller, an affiliate of Coral Gables-based ComReal, which purchased the property in 2001, records show. The previous sale price was not listed in public deeds. 

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The 12-unit commercial building was completed in 1979, records show. During its ownership of the 4.7-acre site, ComReal converted the former distribution center into a multi-tenant property with office and industrial uses, according to a press release. At the time of sale, Lakes Edge was fully leased to eight tenants that provide medical products, pharmaceuticals, life sciences, laboratory services, and logistics, the release states. 

South Florida’s industrial market ended last year on a roll. Last month, the commercial real estate division of the Church of Jesus Christ of Latter-day Saints snagged Beacon Logistics Park, a 1.3 million-square-foot campus in Hialeah, for $174.3 million. The deal was the largest industrial trade in Miami-Dade County and the second largest industrial purchase for all of South Florida in 2023. 

The largest South Florida industrial deal belongs to Boston-based Longpoint Partners, which last month paid $262 million for a 25-industrial building portfolio in Miami-Dade and Broward County. Longpoint’s purchase also took place last month.

Also in December, Spanish billionaire Amancio Ortega’s Pontegadea paid $113 million for Bridge Point Cold Logistics Center, a 312,000 freezer facility in Hialeah. Pontegadea acquired the cold storage warehouse from Chicago-based Bridge Industrial and Newark, New Jersey-based PGIM Real Estate. The joint venture completed the facility on the 20-acre site in 2020.