King Ocean Services Acquires 3.3-Acre Industrial Site In Miami For $18.8M

King Ocean Services, a cargo shipping company, has purchased a 3.3-acre industrial site near the Miami River for $18.8 million. The property, located at 2147 Northwest 32nd Avenue and 3140 Northwest South River Drive, includes four buildings and spans a total of 13,588 square feet. With a price per square foot of $1,384, this acquisition marks an important move for King Ocean Services in expanding their cargo operations in the Miami market.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $18,800,000
• Address: 2147 Northwest 32nd Avenue & 3140 Northwest South River Drive
• Market: Miami
• Square Footage: 13,588

Jose Da Costa Gomez, representing King Ocean Services, facilitated the purchase of this industrial site from Jordan Monocandilos. The acquisition aligns with King Ocean Services' plans to continue using the properties for cargo operations. While redevelopment has been a trend along the Miami River in recent years, the company aims to utilize the existing buildings for their business needs. This strategic move allows King Ocean Services to take advantage of the location's proximity to the Miami River and expand their operations in the area.