Faropoint Acquires Opa Locka Warehouses For $24.65M | 12900, 13000 & 13001 Northwest 38th Avenue | Skylar Stein, Rick Brugge, Mike Davis, Miguel Alcivar, Dominic Montazemi, Rick Colon | Industrial | Sale

Summary

Sale

FLORIDA

Industrial

419,937 sqft

A trio of Opa-Locka warehouses, totaling 139,979 square feet, was sold for $24.65 million in a recent transaction. The properties are located at 12900, 13000, and 13001 Northwest 38th Avenue in the Opa Locka market. The sale price equates to approximately $176 per square foot.

Summary of transaction details

Property Type: Industrial
Transaction Amount: $24,650,000
Address: 12900, 13000 & 13001 Northwest 38th Avenue
Market: Opa Locka

The buyer in the transaction was Yannai Gordon, representing Faropoint. The seller was a partnership between Douglas O'Donnell of O’Donnell Group and Mark Bahiri of Emerald Creek Capital. The deal was facilitated by Dominic Montazemi, Miguel Alcivar, Mike Davis, Rick Brugge, Rick Colon, and Skylar Stein from Cushman & Wakefield.

Notably, the sale represents a gain from the previous acquisition of the warehouses in 2022. The affiliated buyer, FIVF-III-FL2 LLC, is a subsidiary of Faropoint. The seller, North Dade OD LLC, is an affiliate of the O’Donnell Group and Emerald Creek Capital. The transaction was confirmed by Vizzda.

Players

All
7

Agents
6
Agencies
1

Skylar Stein

Senior Associate

$47.6M Sold

Rick Brugge

Executive Managing Director

$1.7B Sold

$2.3B Sold

$711.3M Sold

$3.1B Sold

$1.9B Sold

Details

Deal Summary

SOLD

IMAGE: Dominic Montazemi, Mark Bahiri, Mike Davis, Miguel Alcivar, Rick Brugge, Yannai Gordon, Skylar Stein, Douglas O'Donnell & Rick Colon DATE: 12/26/2023 ADDRESS: 12900, 13000 & 13001 Northwest 38th Avenue MARKET: Opa Locka ASSET TYPE: Industrial BUYER: Yannai Gordon @YGordon7) - Faropoint SELLER: Douglas O'Donnell - O’Donnell Group; Mark Bahiri - Emerald Creek Capital (@EmeraldCreekCapital) BROKERS: Dominic Montazemi (@DFMontazemi), Miguel Alcivar, Mike Davis, Rick Brugge, Rick Colon (@TheRealRickColon) & Skylar Stein - Cushman & Wakefield (@CushWake) SALE PRICE: $24,650,000 SF: 139,979 ~ PPSF: $176 NOTE: A trio of Opa-Locka warehouses, totaling 139,979 square feet, was sold for $24.65 million to Faropoint affiliate FIVF-III-FL2 LLC by North Dade OD LLC, an affiliate of the O’Donnell Group and Emerald Creek Capital. The deal, confirmed by Vizzda, amounted to $176 per square foot, representing a gain from the $17.09 million spent to assemble the warehouses in 2022. ’DonnellGroup EmeraldCreekCapital

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Address12900, 13000 & 13001 Northwest 38th Avenue

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