Doral Freight Forwarder purchases property in Doral

Edward J. Redlich, SIOR, CCIM of ComReal Miami has announced the sale and purchase transaction of a 17,000 sq. ft. warehouse. The Class A, free-standing warehouse is located at 10850 NW 30th Street. in Doral, within the Beacon Industrial Park.

The sales price was $2,635,000 or $155 psf. The Seller was Gateway Warehouse & Consolidators; the Buyer was a Doral freight forwarder and packaging business and is originally from Venezuela.

“There are over two dozen warehouse buildings of this size on the market right now in the Miami Airport West submarket,” states Ed Redlich. “Although the prices per square foot of such warehouses have decreased from the highest sale of about $175 psf last year, values are still relatively high. I think a lot has to do with the fact that Miami is at the center of this hemisphere’s economy.”

The Espinosa family owns & operates Gateway Warehouses & Consolidators, which imports products from overseas and distributes them both domestically and to the South & Central Americas and Caribbean. This is the second time, in less than a year, that Redlich has represented them in a major transaction. In October 2006, Redlich represented The Espinosa’s in the purchase of their 40,000 sq. ft. Class A warehouse located nearby at 11125 NW 29 Street, also located in BIP, for $4,250,000.

Fernando Espinosa, Jr. is delighted to work with ComReal and Redlich for their “relentless pursuit and tireless effort”. Espinosa also added, “We required a specific building in a specific area, and Redlich found it when all others could not. Our company is extremely grateful and will always consider ComReal part of our team.”

For more information on this transaction, call Edward Redlich, SIOR, CCIM at (786) 433-2379, eredlich@comreal.com or visit www.edwardredlich.com