SOLD
Miami Palmetto Storage Property LLC Acquires Miami Industrial Property For $17.5M
7401 Northwest 68th Street
Industrial
85,138 SF
85,138 SF
Sold 17 days ago
Summary
Sale
FLORIDA
Industrial
85,138 sqft
The industrial complex located at 7401 Northwest 68th Street in Miami was sold for $17.5 million. The property spans 85,138 square feet and consists of eight narrow buildings. The sale price equated to $206 per square foot, representing a significant increase from its previous transaction price of $2.97 million in 2009. Recent upgrades to the roof and rising industrial rents in the area contributed to the added value of the asset.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $17,500,000
- Market: Miami
- Asset Type: Industrial
- Acres: 3.96
- Buyer: David G. Archibald - East Capital - Miami Palmetto Storage Property LLC
- Seller: Anthony Askowitz - Natasha’s Canal Co. LLC
David G. Archibald, representing East Capital and Miami Palmetto Storage Property LLC, played a key role as the buyer in the transaction. On the other side, Anthony Askowitz represented Natasha's Canal Co. LLC as the seller. The deal involved the acquisition of the Miami-Dade small-bay warehouses near Medley, showcasing the active investment strategy of East Capital in industrial properties nationwide.
Details
SOLD
IMAGE: David G. Archibald & Anthony Askowitz
DATE: 04/29/2024
ADDRESS: 7401 Northwest 68th Street
MARKET: Miami
ASSET TYPE: Industrial ~ ACRES: 3.96
BUYER: David G. Archibald - East Capital - Miami Palmetto Storage Property LLC
SELLER: Anthony Askowitz - Natasha’s Canal Co. LLC
SALE PRICE: $17,500,000
SF: 85,138 ~ PPSF: $206
NOTE: Miami-Dade small-bay warehouses near Medley were sold for $17.5 million. The 85,138-square-foot industrial complex, featuring eight narrow buildings at 7401 N.W. 68th St., was purchased by Miami Palmetto Storage Property LLC, a Delaware-registered company associated with East Capital, a frequent investor in industrial property nationwide. The sale price equated to $206 per square foot, marking a significant gain from its last transaction at $2.97 million in 2009, with added value attributed to recent roof upgrades and increased industrial rents in the area.View on map
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Address7401 Northwest 68th Street
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