MIAMI-A 40,000-square foot warehouse in the Gratigny CentralIndustrial Park in northwest Miami-Dade County was sold to auser-owner named Faratis, LLC, for $2.8 million or $70 per squarefoot. The seller, Laiacona Enterprises, Inc., is a Floridacorporation. The buyer, who is based in Uruguay, operates under thecompany name Pagnifigue. The company produces baked goods and willbe relocating from its current facility in Doral, near MiamiInternational Airport.

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Laiacona Enterprises constructed the building in 1995 andexpanded it in 1998. It is located on nearly two acres in theGratigny Central Industrial Park and was used by the seller tostore and distribute products such as Zephyrhills and SanPellegrino water. The seller outgrew the building and now leasesmore than 120,000 square feet in the city of Medley in northwestMiami-Dade County.

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The Gratigny park has about 750 acres and seven million squarefeet of buildings, says Steven Medwin, a Jones Lang LaSalleexecutive vice president and one of the brokers who represented theseller. Although it is a large park, it doesn’t get a lot ofattention from the business press because the buildings are ownedby many different owners, he says. Only a couple of institutionsown multiple buildings in the park. “AMB, a large REIT, owns 1.5million square feet there. But most of the owners areusers/occupants,” says Medwin.

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Some of the buildings in the Gratigny park go back to theearly 1970s, although others were built in the mid-2000s,says Medwin. One building which is just being finished, is owned bya recycling company, which is building on a four-acre site itbought last year, he says.

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Another building, occupied by the Iron Mountain record storagecompany, has about 130,000 square feet. It was built in 2007and is owned by a local investor, says Medwin.

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“Historically, Gratigny park has been well occupied,” saysMedwin, “which is another reason why you don’t hear much about it.”The park is near the city of Opa Locka in unincorporated Miami-DadeCounty and is next to the North Campus of Miami-Dade College. TheWinn-Dixie supermarket chain has its distribution center in thepark.

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