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.

Cooler distribution warehouse in Miami is now for lease! The entire building or just a portion. Refrigerated warehouses in Miami rent quick! Please see below and also check out the AERIAL DRONE VIDEO OF MIAMI COOLER WAREHOUSE. >>>

• +/- 29,00 – 75,000 SF Total Space Available
• +/- 6,000 SF Office
• 32 dock doors equipped with levelers, 1 oversized street level
• 165’ non-shared truck court
• Heavy Power, 3-Phase

For more info and a tour, call us at 786-433-2379. Thank you.

The 18770 Building sold to 18770 Miami, LLC for $18.770M !!!

 
ComReal Miami-Doral, LLC is pleased to announce the sale of the property at 18770 NE 6th Avenue in Miami. The transaction closed on Friday, November 9th for $18,770,000 or about $80 per sq. ft. The property consisted of a 234,739 sq. ft. refrigerated distribution warehouse in Miami on 9.46 acres.

ComReal represented the seller, Southeast Frozen Foods Company, L.P. who leased back about one-third of the building. The buyer is 18770 Miami, LLC which is associated with Premium Capital and Madison Properties based in New York.

“There is a large demand for refrigerated warehouses and a low supply”. states Ed Redlich, SIOR, CCIM with ComReal. “This is also a great location for the distribution of perishables since it happens to be equidistant from both PortMiami and Port Everglades by fifteen miles.” Redlich’s team is very active in the sales and leasing of cooler and freezer warehouses in Miami. He is also a member of the PortMiami Perishables Committee.

For more information on this transaction as well as other Miami cold storage buildings available, please contact Ed Redlich, SIOR, CCIM.
 

Fun fact! During the negotiations, the seller and buyers compromised on the price of $18,770,000 because it matched the 18770 building number.

ComReal Scores Again with Refrigerated Warehouse for Produce Importer

Miami, FL– Strong efforts by the ComReal team, led by Partner and Managing Member, Edward Redlich, led to the leasing of a third Miami warehouse location for international produce importer, American Consolidation & Logistics (ACL). The 93,799-sq. ft. facility located at 3200 NW 67th Avenue in the South Florida Logistics Center is one of the only controlled atmospheres for fumigation in the country. This multi-million-dollar deal gives ACL a prime location near Miami International Airport, where much of their imported produce arrives by plane.

“Our new location near MIA is critical. We can provide our clients peace-of-mind by assuring that their produce is transported as quickly as possible to our specialty refrigeration units located inside our warehouse.” Said Jose Medina, CEO of American Consolidation and Logistics. “The quick work of finding this facility by Edward Redlich and his team of Chris Spear and Edison Vasquez was unbelievable. I’ve never worked with a Realtor more professional, diligent, and who conducts business with complete integrity like Ed does.”

“This is our sixth client that we’ve represented in leasing warehouse space totaling over 350,000 sq. ft. at South Florida Logistics Center.” Said Edward Redlich, Managing Member at ComReal Miami – Doral. “Our team has leased more space at South Florida Logistics Center than any other brokerage firm. We were happy to service American Consolidation & Logistics, and assist them in finding the perfect refrigerated warehouse.” Flagler Brokerage and Management Services represents the ownership. 

In the Fall of 2016, Redlich and his team were retained by ACL to acquire a +/- 100,000 sq. ft. refrigerated warehouse in Miami. They began working on a comprehensive site selection of potential properties that would suit ACL’s needs including both existing warehouse buildings and vacant land for build-to-suit construction. The only building that already had the refrigeration systems installed and ready-to-go was Building #1 at South Florida Logistics Center, where ACL now operates. In addition to Miami International Airport, the property is also easily accessible to PortMiami via truck or railroad. American Consolidation & Logistics moved into their new Miami cooler warehouse on April 17, 2017. This is their third South Florida location along with their Opa-Locka headquarters and a warehouse in Pompano Beach.

ComReal Miami – Doral: The ComReal Industrial Team has been assisting companies with their South Florida real estate needs for over 30 years. The industrial team specializes in the sales and leasing of industrial properties.  Visit www.MiamiIndustrialTeam.com  and/or call 786-433-2380 for more information.

American Consolidation & Logistics: ACL specializes in handling imports of fresh fruits and vegetables. Our team has a wealth of experience with produce. We are committed to using all of our resources in order to offer the highest level of service in the produce industry. Visit www.amerconsolidated.com for more information.

Storing perishable products in a controlled temperature helps to prevent rotting, sprouting, insect damage, and other common forms of degradation. While storage in these types of environments is often necessary for logistical reasons, cold storage also enables seasonal agricultural products to be distributed to retailers for a much longer season or possibly year-round.

Temperature controlled facilities are cooled by advanced refrigeration systems that use refrigerants such as Ammonia, Freon, or Carbon Dioxide. The temperature maintained in a refrigerated warehouse depends on the storage time required and the type of product. Cold storage facilities require appropriate insulation and an uninterrupted power supply. Location is also a very critical aspect for the success of cold storage. Facilities should be centrally located with easy access to major highways.

The ComReal Miami Industrial Team specializes in cold storage facilities and recently listed the largest freezer cooler warehouse available in South Florida. The 80,000 sq. ft. property is 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. Visit www.MiamiCoolerWarehouse.com for more info.

To learn more about available cooler warehouses, please contact the Miami Industrial Team at 786-433-2380