An industrial property located at 8505 Northwest 74th Street in Medley, Miami-Dade was sold for $31,000,000. The asset spans 10.5 acres and includes 80,000 square feet of warehouse space. This transaction highlights the growing demand for industrial real estate in the South Florida market.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $31,000,000
• Buyer: Andrew Skydell & Jacob Diamond - Simi Capital
• Seller: Acosta Family
• Broker: Lee Katsikos - The Katsikos Group
• Lender: Amerant Bank
• Square Footage: 80,000
• Price per Square Foot: $388
• Acquisition Date: 05/27/2025

The transaction featured key participants such as Andrew Skydell and Jacob Diamond, representing Simi Capital, who acquired their fifth industrial asset in South Florida. The seller, Acosta Family Ltd Partnership, had previously purchased the site in 1998. At the close of the deal, tenant Iron Container signed a new 10-year lease, with representation from Rene Vivo. The property is strategically positioned next to Blackstone’s Palmetto 74 Logistics Center and the $60M Quirch Foods facility developed by BentallGreenOak.