Lakesedge AIC LLC Acquires Doral Commercial Property For $17.5M From Seller Stephen H. Smith

A Doral commercial/industrial building with 12 condos at 9000 N.W. 15th Street has been sold for $17.5 million. The property, which spans 70,067 square feet, was purchased by Lakesedge AIC LLC. The sale price equates to approximately $250 per square foot. The building is located in the Doral market.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $17,500,000
• Square Footage: 70,067
• Address: 9000 Northwest 15th Street
• Market: Doral

Lakesedge AIC LLC acted as the buyer in this transaction, with Sebastian Guejman representing the company. On the other hand, Stephen H. Smith, representing Lakes Edge Commercial Properties LLC, served as the seller. Banesco USA provided financing for the deal. The $11.08 million mortgage obtained from Banesco USA contributed to the purchase of the property. It's worth noting that the Doral market currently has a 3.8% vacancy rate and an average asking rate of $25.32 per square foot, according to Colliers' Q3 report.