MIAMI—In a record setting sale, the Furniture Market building inHialeah, FL has traded hands. The warehouseproperty sold for $6.5 million, or $50.83 per square foot.

According to Sperry Van Ness, at over $50 persquare foot, the sale represents one of the highest prices on awarehouse over 100,000 square feet in the Airport East submarket inthe past five years. Atlantic Investors Groupacquired the asset through affiliate 1000 HialeahPartners.

“Expanding our presence in Miami-Dade, and Hialeah inparticular, allows us to provide an investment opportunity that isreadily understood by our clients, who like the idea ofparticipating in the area's strong growth," says SandyStice, president of Atlantic. “Joel extracted a 'top ofthe market' price for his client, but did a masterful job ofhelping us with getting our financing and working with our lender,Florida Community Bank, to help them understand the uniqueattributes of this building and location.”