Tenet Holdings Miami Lakes LLC Acquires Industrial Facility From Time Equities Inc For $18M

The property located at 14427 Northwest 60th Avenue in Miami Lakes is an industrial asset encompassing 7.3 acres. The property features a total of 104,607 square feet and was built in 1972. It was sold for $18,000,000, translating to $172 per square foot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $18,000,000
• Buyer: Tenet Holdings Miami Lakes LLC
• Seller: Francis J. Greenburger - Time Equities Inc
• Lender: RGA Life and Annuity Insurance Co.
• Mortgage Amount: $7,500,000
• Market: Miami Lakes

The transaction involved New York-based Time Equities' ML Portfolio Equities, which sold the National Molding Miami headquarters and manufacturing facility. The deal highlights the involvement of multiple parties, with Tenet Holdings Miami Lakes LLC acquiring the property under a net lease structure, while financing was secured through RGA Life and Annuity Insurance Co.