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8505 Northwest 74th Street

Updated May 27, 2025

Simi Capital Acquires 10.5 Acre Industrial Warehouse In Medley For $31 Million With Amerant Bank
SOLDIndustrial

Simi Capital Acquires 10.5 Acre Industrial Warehouse In Medley For $31 Million With Amerant Bank

8505 Northwest 74th Street

$31,000,000

$387/SF

Building Size

80,000 SF

Asset Type

Industrial

Closing

May 27, 2025

About this deal

AI

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.

On the Map

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$31,000,000

$387/SF

Industrial

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Players

Lee Katsikos

The Katsikos Group

Broker

$44.2M

vol

2 deals

Broker
Amerant Bank
Amerant BankLender
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Miami Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $387 per square foot on a published $31M for 80,000 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.51%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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