The complex has an aggregate of 134,524 sf, and was 80% leased at the time of the sale, according to Alex Zylberglait, an investment specialist in the Miami office of Marcus & Millichap. Zylberglait represented the seller and also secured and represented the buyer in the transaction. Among the existing tenants are CVS USA Corp., Comprehensive Medical, Dade County Correction, Ditto Express, HS Reader Inc., Rock Church & Ministries, Southern Cross Trading and Zema International.
The buildings were completed between 1971 and 1973 and are located across from Miami International Airport. "The complex offers upside potential through gains in rents and occupancies," Zylberglait says. "Although rent rates vary," he tells GlobeSt.com, "the asking rate is about $19 per sf.
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