Doral industrial property sells for $6.1 million

A price tag of $6.1 million distinguished the recent sale of a 40,000-square-foot industrial property in Doral by its San Francisco-based owner Terreno Realty Corp., which acquires and operates commercial real estate in six major U.S. markets.


A price tag of $6.1 million distinguished the recent sale of a 40,000-square-foot industrial property in Doral by its San Francisco-based owner Terreno Realty Corp., which acquires and operates commercial real estate in six major U.S. markets.

 

Located at 11460 NW 39th St., the parcel comprises one building on approximately 1.6 acres. Terreno previously purchased the property in 2011 for close to $4.4 million, turning it over following the expiration of its one tenant’s lease at the end of August; the tenant was Gap Forwarding Inc., a freight services company.

 

The building, a warehouse, is situated on a block between NW 114th and NW 115th Avenues just off Florida’s Turnpike 29 near Doral Park and Costa Greens Golf Club.

 

The median asking price for all industrial properties recently listed for sale within 20 miles of the Doral building was $155 per square foot, commercial real estate data provider loopnet.com reports, with the average asking price for the metro region listed at $128 per square foot and for all Florida industrial property listed at an average of $82 per square foot as of June 16.

 

Terreno Realty Corp. manages industrial properties in six coastal metropolitan markets, including Los Angeles; Northern New Jersey and New York City; the San Francisco Bay area; Washington, D.C. and Baltimore, and Seattle in addition to Miami.

 

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