Panattoni Development Company Acquires Office Building In Doral From Parmenter Realty Partners

The asset involved in this transaction is an office property located at 3511 Northwest 91st Avenue, Doral. The building encompasses a total of 158,268 square feet and sits on 9 acres of land. The transaction was facilitated by Cushman & Wakefield, who has prior knowledge of the property, having been involved in its previous sale for $27.25 million in 2021. The current buyer, Panattoni Development Company, plans to redevelop the site into an industrial project, taking advantage of its prime location and the limited availability of land in the area.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Undisclosed
• Address: 3511 Northwest 91st Avenue
• Market: Doral
• Square Footage: 158,268 SF
• Acres: 9
• Buyer: Panattoni Development Company
• Seller: Parmenter Realty Partners, Cudlob Capital & Prime Finance
• Broker Representation: Mark Gilbert, Miguel Alcivar & Wayne Ramoski - Cushman & Wakefield

In addition, Cushman & Wakefield played a crucial role in facilitating this sale, highlighting their expertise in the Doral market. The brokerage team, consisting of Mark Gilbert, Miguel Alcivar, and Wayne Ramoski, contributed their knowledge and resources to this transaction, assisting both the buyer and the sellers in navigating the complexities of the deal.