Lightstone Acquires Industrial Property In Miami Gardens From Warehomes Precision For $20M

The property asset involved in this transaction is located at 15801 Northwest 49th Avenue in Miami Gardens, designated as an industrial asset. The sale was completed for a total of $20,000,000, covering 143,000 square feet, which results in a price per square foot of $140. The asset spans across 5 acres, valuing the property at approximately $4,000,000 per acre.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $20,000,000
• Buyer: Lightstone
• Seller: Warehomes Precision
• Key Individuals: David Lichtenstein (Buyer), Jason Morjain and Marcos Morjain (Sellers), Moishe Mana (Tenant)
• Square Footage: 143,000
• Price Per Square Foot: $140
• Acreage: 5
• Price Per Acre: $4,000,000

The deal highlights prominent figures in the real estate sector, including David Lichtenstein representing Lightstone as the buyer. The sellers, Jason and Marcos Morjain, are associated with Warehomes Precision. Moishe Mana is the tenant that will occupy the property following the transaction.