MIAMI—Foreign investors are still flocking to Miami and the healthcare industry is still heating up. Put the two trends together and the sale of a 26,000-square-foot industrial property in Opa-Locka, FL makes good sense.
A Guyana, South America-based medical group snapped up the industrial asset, which is located at 4380 NW 135th Street in Opa-Locka, for $1.8 million. The warehouse is the former home of American Medical Depot, a distributor of medical and surgical supplies for virtually every recognizable name brand manufacturer in the healthcare industry. Danny Zelonker, principal at Coral Gables-based Real Miami Commercial Real Estate, represented the seller.
“The REITs are delivering larger industrial product to the market, but the 25,000- to 50,000-square-foot facilities are difficult to come by and as a result, are attracting enormous interest, especially among the foreign investors, who tend to be cash buyers,” says Zelonker. “We had three contracts on this facility alone.”
Zelonker was also recently involved in the sale of a building within EastPoint Industrial Park, a 416,331-square-foot warehouse in North Carolina’s Research Triangle. That property was sold as a 1031 Exchange to an Aventura investor by seller TG/LVF Eastpoint for $8 million.