Cushman & Wakefield Negotiates $8.55M Sale of Miami 25 @ MIC
The Cushman & Wakefield Team of Miguel Alcivar, Wayne Ramoski, Dominic Montazemi, Scott O’Donnell and Gian Rodriguez Represented DFJ East Properties LLC in the Disposition of the Small-Bay Flex Industrial Asset
MIAMI, March 14, 2019 — Cushman & Wakefield has negotiated the sale of Miami 25 @ MIC (Miami Intermodal Center), a 77,820-square-foot small-bay flex industrial property.
The Cushman & Wakefield team of Miguel Alcivar, Wayne Ramoski, Scott O’Donnell, Dominic Montazemi and Gian Rodriguez represented Miami-based DFJ East Properties LLC in the sale. MIA at 25th Street LLC acquired the asset for $8.55 million ($110 per square foot).
Miami 25 @ MIC is situated on a ±3.44 acre site at 3901 - 3977 NW 25th Street and 3900 - 3960 NW 26th Street in Miami. The property is strategically located across NW 25th Street from Miami Intermodal Center (MIC) and just east of Miami International Airport (MIA). MIC is a massive $2 billion multi-modal ground transportation hub developed by the State of Florida Department of Transportation. MIC encompasses Miami Central Station (MCS), a state-of-the-art facility connecting Tri-Rail, Metrorail, MIA Mover, Greyhound and local bus lines, and the Rental Car Center (RCC).
Miami 25 @ MIC was 92.3% leased at the time of sale. Notable tenants include Fastenal, Doral Services and Planetcare.
“Miami 25 @ MIC is exceptionally well positioned at the hub of Miami’s public transit system and represented a tremendous opportunity for an investor to acquire a cash-flowing asset with future upside,” said Alcivar.