CBRE Arranges $17.5M Sale of 80,000 SF Industrial Property in South Florida

CBRE, in association with ComReal, has arranged the sale of an 80,158-sq.-ft. industrial property at 9000 NW 15th Street in Doral, Florida. Lakes Edge AIC, LLC purchased the property from Lakes Edge Commercial Properties, LLC for $17.5 million.

David Wigoda, SIOR with CBRE Capital Markets represented the seller in the transaction.

“Since purchasing the property in 2001, ownership transformed what was once a simple distribution center into a thriving, multi-tenant property for traditional and non-traditional industrial uses,” said Mr. Wigoda, a Senior Vice President with CBRE.

He added, “Closing this deal took nearly a full year and today’s turbulent capital markets environment created even more challenges. Fortunately, a local real estate investor recognized the incredible benefits to the property’s location, features, and potential for improvement.”

Lakes Edge Innovation Center was fully leased to eight tenants at the time of sale. Current uses include medical products, pharmaceuticals, life sciences, laboratory, and high value logistics. The building features clearance heights ranging from 16 to 22 feet.

Located in Miami’s Doral submarket, the building sits on approximately 4.74 acres near the intersection of Florida State Road 826 and Florida State Road 836, just three miles west of Miami International Airport and five miles east of the Florida Turnpike.