Faropoint Acquires Opa Locka Warehouses For $24.65M

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.