Jones Lang LaSalle Completes 60,000 SF Of Industrial/Flex Sales In Doral

In a sign that Airport West continues to be South Florida’s most active industrial submarket, Jones Lang LaSalle (JLL) has completed three industrial property sales totaling 60,000 square feet with a combined value of $8 million.
Jones Lang LaSalle’s Managing Director Steve Medwin, SIOR, CCIM, and Vice President Nick Wigoda represented Smile Market, a cameras and accessories company, in the acquisition of an 18,500-square-foot warehouse for $2.35 million at 3381-3389 NW 97th Ave. The seller, Chesapeake Bay International, Inc., was represented by Kaizen Realty. The JLL team also represented Vaxtronic, LLC. in the purchase of an 18,753-square-foot warehouse property at 2150 NW 102 Place for $2.25 million. The seller, M.J.M.B. Enterprises, Inc, was represented by Vivo Realty.
These acquisitions gave both electronics companies an opportunity to expand their spaces by 80 percent in Miami-Dade. Airport West offers Smile Market and Vaxtronic a strategic location, as both companies export their electronic products to Latin America.
“Leasing and sales activity remains strong in the Airport West submarket with many existing companies seeking expansion as a result of increased international trade,” said Jones Lang LaSalle Vice President Nick Wigoda. “The region’s strong ties to Latin America and the Caribbean are also driving building prices up in this submarket.”
In a separate transaction, JLL’s Medwin, Wigoda and Associate Matt Maciag also represented Americatel, Inc., in the sale of a 21,000-square-foot office/flex building on 2.5 acres at 4045 NW 97th Ave. in Doral. The buyer, Florida City Gas, paid $3.34 million.
Considered the primary industrial market in Miami-Dade, Airport West contains approximately 32 million square feet of space and is favored by both port and airport users, with a tenant mix that includes freight forwarders, food and beverage distributors and third-party logistics companies, according to JLL’s Miami-Dade Industrial Outlook Report. The submarket’s location along the Dolphin (SR-836) and Palmetto (SR-826) Expressways and the Florida Turnpike Extension offers prime access to the airport for time sensitive cargo shipments, the report states.