The Cushman & Wakefield Team of Miguel Alcivar, Wayne Ramoski, Dominic Montazemi, Scott O’Donnell and Gian Rodriguez Represented DFJ East Properties LLC in the Disposition of the Small-Bay Flex Industrial Asset
MIAMI, March 15, 2019 — Cushman & Wakefield has negotiated the sale of Miami 25 @ MIC (Miami Intermodal Center), a 77,820-square-foot small-bay flex industrial property.
The Cushman & Wakefield team of Miguel Alcivar, Wayne Ramoski, Scott O’Donnell, Dominic Montazemi and Gian Rodriguez represented Miami-based DFJ East Properties LLC in the sale. MIA at 25th Street LLC acquired the asset for $8.55 million ($110 per square foot).
Miami 25 @ MIC is situated on a ±3.44 acre site at 3901 – 3977 NW 25th Street and 3900 – 3960 NW 26th Street in Miami. The property is strategically located across NW 25th Street from Miami Intermodal Center (MIC) and just east of Miami International Airport (MIA). MIC is a massive $2 billion multi-modal ground transportation hub developed by the State of Florida Department of Transportation. MIC encompasses Miami Central Station (MCS), a state-of-the-art facility connecting Tri-Rail, Metrorail, MIA Mover, Greyhound and local bus lines, and the Rental Car Center (RCC).
Miami 25 @ MIC was 92.3% leased at the time of sale. Notable tenants include Fastenal, Doral Services and Planetcare.
“Miami 25 @ MIC is exceptionally well positioned at the hub of Miami’s public transit system and represented a tremendous opportunity for an investor to acquire a cash-flowing asset with future upside,” said Alcivar.
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Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.