The 57,000 sq. ft. warehouse is located in the Miami Airport East sub-market. The closing sales price was $2,050,000 or about $26 per sq. ft. The sale was closed in January 2014. The purchase was made under IPR Investments, LLC. The seller was Rari Corporation.

Karlville originally retained ComReal to acquire a 15,000 sq. ft. class  A warehouse in the Doral area. However, after preparing several site selections then listening to the customer’s needs, ComReal suggested touring larger, class C warehouses in Hialeah and the Airport East areas. It was determined that IPR could acquire a warehouse nearly quadruple the size, but still within their $2M budget. In addition, ComReal was able to assist in a simultaneous lease transaction for the eastern 27,000 sq. ft. space with Romark Logistics at 3570 NW 59 Street. So the entire building will be 100% occupied by the two companies.

Karlville is a leading global manufacturer of equipment selling into North and South America, Eastern and Western Europe, Middle East and African markets. They have manufacturing operations in France, Taiwan and China, as well as service and support operations in USA, Latin America and Europe. Here is a short list of what they manufacture: shrink sleeve, pouch filling, tape application and packaging machines. To learn more about Karlville whose new Miami address will be 3590 NW 59 Street, please call them at 305-533-1051 and/or visit www.Karlville.com.

It is also important to mention that ComReal Miami co-operated with Acquire International Realty in the representation of IPR. Acquire has the relationship with the principals and ComReal has the expertise in the industrial real estate market. Together, they successfully represented IPR and better served their mutual client’s needs.

For more information on this transaction and other Miami warehouses, please contact the ComReal Miami Warehouse Team at 786-433-2380 or www.MiamiWarehouseTeam.com.