Blackstone Acquires 6.4-Acre Property In Miami Springs For $15.5M

Blackstone has purchased a 6.4-acre property located at 7320 Northwest 61st Street in Miami Springs, Florida, for a total of $15.5 million. The property includes a vehicle storage and propane sales business, which will help address the shortage of parking spaces for trucks and heavy equipment in Miami-Dade County. This acquisition reflects the increasing value of auto storage facilities with fuel and service amenities.

Summary of Transaction Details

• Property Type: Land
• Transaction Amount: $15,500,000
• Address: 7320 Northwest 61st Street
• Market: Miami
• Acres: 6.4

The buyer, Blackstone, acquired the property from Davant Development Corp, with Stuart Davant representing the seller in the transaction.