TA Realty Acquires Doral Warehouse With Film Studio For $26.42M
1910 Northwest 97th Avenue
$26,420,000
$232/SF
Building Size
113,891 SF
Asset Type
Industrial
Closing
Jan 4, 2024
AI
A 113,891-square-foot warehouse and film studio in Doral, Miami-Dade County, has been acquired by Boston-based TA Realty for $26.42 million. The property, located at 1910 Northwest 97th Avenue, was sold by Ming Z. Mei of GLP Capital Partners. The transaction took place on 01/04/2024 and marks a significant increase in value compared to its previous sale price of $16.2 million in 2020.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $26,420,000
- Square Footage: 113,891
- Price per Square Foot: $232
- Address: 1910 Northwest 97th Avenue
- Market: Doral
The buyer, James O. Buckingham, represented TA Realty in the transaction, while the seller, Ming Z. Mei, was represented by GLP Capital Partners. It is worth noting that the property is currently offering sublease space listed at $8.75 per square foot, reflecting the increased industrial rents in Miami-Dade County as stated in the Q4 Colliers report.
Players
Doral Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93