Reich Bro's Acquires Industrial Property In Miami For $14.25M From Seller Mandich Group And Broker George Smith

An industrial property located at 501 NE 183 Street in Miami has been sold in a recent transaction. The property, spanning 133,000 square feet, was sold for a price of $14,250,000. The buyer of the property is Reich Bro’s, while the seller is the Mandich Group, represented by Michael, Mark, and Nick Mandich. The deal was facilitated by broker George Smith from @G_Smith_Cre. The property is a cold storage industrial asset, which has remained highly sought-after both before and after the COVID-19 pandemic. The asking price for this property was $15,500,000, and it was sold at a price of $107 per square foot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $14,250,000
• Address: 501 NE 183 Street, Miami
• Buyer: Reich Bro’s
• Seller: Mandich Group - Michael, Mark & Nick Mandich
• Broker: George Smith @G_Smith_Cre

If you have any questions regarding the sale, acquisition, or valuation of cold storage assets, you can contact George Smith at [email protected].