CBRE Negotiates Record Sale For Industrial Development In Doral

Oct 13, 2020 No Comments by

CBRE Senior Vice Presidents Larry Genet, Tom O’Loughlin and Vice President Jake Zebede negotiated the sale of Doral Center Development Land, a pristine parcel in highly sought-after Doral, Florida, located at 10751 Northwest 25th Street.

CBRE, as exclusive representative, sold the land, which totals 162,325 square feet (3.72 acres), for $6,000,000 or $37 per square foot.

The Seller, REMS Group, and its principals are family friends of Zebede. NGI International Realty’s Alp Kucukoner, represented the Buyer, an international cosmetics company.

The Buyer intends to build a state-of-the-art corporate headquarters and distribution facility for its cosmetics company. The Doral parcel provided the perfect opportunity.

CBRE Industrial Team's Larry Genet, Tom O'Loughlin & Jake Zebede

From Left: Larry Genet, Tom O’Loughlin and Jake Zebede

 

“We were the third brokerage group to take this assignment on,” explained Zebede. “Ultimately, it was the quality location that supported the transaction. I am grateful for the opportunity and thrilled about the result for a lifelong friend and client.”

 

“This is a record setting price for industrial land in our market,” added Genet. “We see land prices continuing to climb due to the lack of remaining options for companies and developers.”

The property is near the Florida Turnpike, Dolphin and Palmetto Expressways with nearby companies including Perry Ellis International, Intcomex, Carnival Corporation, DHL, and many more. It also serves the Miami International Airport and the Port of Miami.

Doral Center Development Land

The team, which NAIOP South Florida recently recognized as Industrial Broker Team of the Year at its annual Awards of Excellence event, has completed several lease and sale transactions in the area this year.

 

 

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Industrial / Flex, Industry News, Miami-Dade County Industrial / Flex
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