SVF Snags $23M Miami-Area Flex Campus
- Jan 23, 2018
Cushman & Wakefield has negotiated the sale of a six-building flex campus in Miami-Dade County, on behalf of the seller. SVF Acquisitions LLC bought the property for $22.8 million.
Situated on 10.4 acres at 8200-8290 NW 27th St. in Doral, Fla., the 88 percent occupied Transal Park comprises 134,175 square feet across the six one-story buildings. The assets feature flexible bays with a combination of direct-access front office and rear warehouse with grade-level entries to truck courts. Additional features include tenant signage, a restaurant, on-site security and a parking ratio of 3.6 spaces per 1,000 rentable square feet. Notable tenants include United States Medical, Office Bargain Center, Miami Vet Center, South Florida Health Management, Encore Optical and Doral Digital Reprographics. The campus is within close proximity to the Palmetto Expressway and Miami International Airport.
The Cushman & Wakefield Capital Markets team of Mike Davis, Dominic Montazemi, Michael Lerner, Miguel Alcivar, Scott O’Donnell and Rick Brugge, in addition to leasing partners Gian Rodriguez and Wayne Ramoski, represented the seller.
“Transal Park’s central location, ease of access and highly functional bays have historically driven leasing activity among users seeking flexible office space with warehouse functionality as well as those seeking relative value vis-à-vis escalating traditional office rates,” said Alcivar, in a prepared statement. “The combination of good in-place cash flow, short-term leases and a sizable 10.4-acre site with flexible zoning at a strategic corner in Doral, attracted tremendous interest from a range of buyers with varying investment strategies, including future redevelopment.”
Just last week, Cushman & Wakefield represented Terra Group in the disposition of the grocery-anchored Doral Commons, a 140,000-square-foot retail center in Doral, Fla., for $72 million.
Image courtesy of Cushman & Wakefield