In the midst of the current pandemic, cold storage buildings totaling 157,000 square feet at 12401, 12701, 12725 NW 38 Ave. on 12.5 Acres in Opa-Locka, Florida have sold for $26,000,000.

Stephen M. Greene, seller, held the single member LLCs of the parcels. The buyer was Realterm Logistics. In 1966, Don Greene and son Stephen Greene formed Don Greene Provisions with the purchase of local poultry distributor and its 3,000 square foot building and grew. In 1983, the company acquired land and developed phase one with 71,000 SF of buildings, and in 2005
expanded a second phase totaling 82,000 SF. The property includes 2 acres of vacant land and is rail served with gated entry security.

The property is strategically located among major transportation nodes, Port of Miami and Port Everglades and South Florida population centers. “In the past the food storage specialty sub-sector was dominated by build-to-suit development for owner/occupiers. As e-commerce grows and evolves with major grocers, food storage is becoming a special asset class providing industrial investors and REITS focusing on cold storage” states John Lonardo, CCIM.

The purchaser, Realterm Logistics, is an institutional owner of logistics facilities that serves the transportation industry. Based in Annapolis, MD, they own and manage facilities across the world. The Opa-Locka buildings have been 100% leased to Harvest Sherwood Food Distributors for the past 10 years and recently exercised a renewal option. “We are excited to add this property to our portfolio. The combination of dock high loading and coverage make the property extremely unique for the market and one we think will benefit from the increased industrial distribution demand,” stated Realterm’s Tyler Mordas, VP of Acquisitions. Realterm has acquired two industrial facilities in Miami-Dade over the last 90 days, totaling $30,000,000. “While some are hesitant to
allocate equity during this pandemic, Realterm has sought out specific assets and been successful at closing, creating a win-win for the seller and Realterm” says Chris Spear, Partner at ComReal | Miami-Doral, LLC, who represented Realterm. “Cold storage has become a niche market and is in high demand, as the need for localized cold storage facilities has increased.

For more info on this and other refrigerated warehouses in Miami, please call 786-433-2380.

The Miami Freezer Warehouse is now for sale! This is one of the largest warehouses in Miami now listed on-the-market for sale. The property’s freezers and coolers make it ideal for the perishables industry. However, it could also be great for dry distribution and/or manufacturing. Investors may appreciate that the property is multi-bay and that the owner might lease-back about 65,000 sq. ft. The building sits on 9.46 acres. It is located at 18770 SE 6th Avenue in Miami about halfway between PortMiami and Port Everglades just off the I-95 Expressway.

• Total Building Size: +/- 234,739 SF
• Freezer: +/- 157,794 SF
• Cooler: +/- 22,729 SF
• Refrigerated Dock: +/- 19,441 SF
• 24’-26’ Ceiling
• Fully-Racked ~ +/-10,000 Positions in Present Configuration
• 32 Dock Doors
• 9.46 Acres
• Immediate I-95 & Florida’s Turnpike. Equidistant 15 miles from both PortMiami and Port Everglades
• Contact ComReal for a full package, more details, the pricing, etc.

The largest, available refrigerated warehouse in South Florida!

The ComReal Miami Industrial Team is pleased to introduce you to this 80,000 sq. ft. refrigerated warehouse building. The address is 650 NE 185th Street in Miami Gardens, Florida 33179. The property is centrally located on the Miami-Dade/Broward County line and is about 15 miles from both Port Miami to the south and Port Everglades to the north. Access to major expressways includes I95, Florida Turnpike, I75 and the Palmetto Expressway. CSX Railroad can also service the warehouse. The building was originally constructed in 1974 and customized for a cold storage facility. The all concrete construction also has insulated walls and ceilings. The foundation is ventilated so that the floor does not freeze.

The total refrigerated area measures about 78,000 sq. ft. Plus there is about 1,700 sq. ft. of office space. The building sits on over three acres of land and is zoned medium industrial by Miami-Dade County. There are twelve (12) dock height loading positions all with pit levelers, door seals and dock lights. In addition, there is a concrete, drive-in ramp plus two (2) railroad doors. The 28′ high ceilings allow for the storage of over 8,000 pallet positions and the space is already fully racked and ready to go!

This refrigerated warehouse is ideal for perishables such as foods, produce, seafood and pharmaceuticals. It can be used as both a cooler or a freezer which can go down to -10 degrees Fahrenheit. Other neighbors include Publix Groceries, Velda Farms, Kansas Marine, Southeast Foods, Flowers Foods, Miami-Dade County, Becton Dickinson Company (BD), IVAX Pharmaceuticals and TEVA Pharmaceuticals.

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