Devin Lobue Purchases Development Site In Miami For $2.7M With Buyer’s Rep Miguelangel Salazar-Pesce & Azael Reyes

The property involved in this transaction is a development site located at Southwest 129th Terrace in Miami. The asset was acquired for a price of $2,700,000, featuring a building square footage of 42,396 SF and a bulk square footage of 12,000. The price per bulk square foot stands at $225, while the price per square foot is $63.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,700,000
• Buyer: Devin Lobue
• Seller: Granvil Tracy
• Buyer's Representative: Miguelangel Salazar-Pesce & Azael Reyes - East Coast Properties & Commercial Real Estate
• Seller's Representative: Randall Hill - Southern Hill Real Estate
• Building Square Footage: 42,396 SF
• Bulk Square Footage: 12,000
• Price per Bulk Square Foot: $225
• Price per Square Foot: $63

East Coast CRE represented the buyer in the acquisition, planning to develop a custom facility that includes 8,000 SF of warehouse space and 4,000 SF of office space across two floors. This facility will also feature dedicated employee parking and truck staging areas for the fleet, supporting the client's operational expansion and long-term partnership goals.