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150,000-SF Facility Sells for $6M in Foreclosure

MIAMI-Aeroturbine Inc. purchased the former Federal Aviation Administration repair facility in foreclosure proceedings for nearly $41.67 per sf. The aviation company plans to occupy the building, located in the Airport West submarket.

By Melissa Bogdany | Updated on March 02, 2004

MIAMI-The aviation company Aeroturbine Inc. has acquired a 150,000-sf former Federal Aviation Administration repair facility for nearly $6.3 million in foreclosure proceedings. The price equates to around $41.67 per sf.

Aeroturbine principals Nick Finazzo and Bob Nichols recently purchased the note on the property from John Hancock Life Insurance Co. The facility previously was owned and occupied by Medrano Holdings Inc. It is located at 2323 N.W. 82nd Ave. in the Airport West submarket.

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