Envision Cold Acquires Industrial Asset From Manuel Rivas In Miami For $48.29M

The asset involved in the transaction is an industrial property located at 2950 Northwest 75th Street, Miami. The property sold for $48,290,000 and encompasses 187,122 square feet, resulting in a price per square foot of $258.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $48,290,000
• Buyer: Envision Cold
• Seller: Manuel Rivas
• Brokers: Raul Pino & Pablo Vignolo - The Hype Real Estate Group
• Market: Miami

Raul Pino and Pablo Vignolo from The Hype Real Estate Group facilitated the transaction, representing both the buyer and seller. This particular deal involves one of the few remaining privately owned cold storage buildings exceeding 180,000 square feet in Miami that is not under institutional ownership. The brokerage is expanding its reach, having recently opened an office in New York City, and focuses on off-market opportunities and well-priced deals across Florida.