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Industrial Building Sale Nears $3M

MIAMI-The buyer, 165th Street LLC--which owns a company that imports dollar store-type products--plans to move there in about a year. Cerberus Capital sold the property for approximately $39.43 per sf.

By Melissa Bogdany | Updated on May 25, 2004

MIAMI-An approximately 65,000-sf industrial building near the city has been sold for nearly $2.6 million. The property’s buyer, 165th Street LLC, paid Cerberus Capita about $39.43 per sf. Cerberus Capital is an equity fund that owns Equality Specialties Inc., the building’s current occupant.The one-story building at 1600 NW 165 St. within Sunshine State Industrial was built in 1965. It is on nearly 3.5 acres and has a large truck yard as well as storage areas. The property also includes more than 100 parking spaces. The market and assessed values of the property are nearly $1.8 million, according to the Miami-Dade County property appraiser’s office.The buyer owns a company that imports dollar store-type items. It plans to move in and use the building for its own use in about a year, according to Ted Konigsberg, a broker involved in the transaction.Konigsberg and Nick Wigoda of Colliers International represented Cerberus Capital in the sale of the property.

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