(To read more on the industrial market, click here.)
MIAMI-A joint venture between Miami Beach-based Terranova Corp.and locally based BlackRock Realty Advisors has acquired a400,000-sf industrial building at 7100 NW 32nd Ave. for $15million.
The 18-acre property has long been used for grocery distributionby Associated Grocers. The site is next to Federated DepartmentStores' logistics facility and a few blocks from a planned200,000-sf Wal-Mart Supercenter. "This site is ideally locatedbetween Miami International Airport, the Opa Locka Airport and thePort of Miami, a location that will enable users to serve cargotransit at all three facilities and avoid the intense traffic westof the airport," says Terranova Corp. chairman Stephen Bittel.
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