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AMB Property Pays $8M for 230,000-SF Industrial Building

MIAMI-Edron Fixture Corp., a division of Leggett & Platt that previously occupied the entire building, closed that location and sold the building for about $32.93 per sf. The building is the sixth that AMB purchased in the Seaboard/Gratigny Industrial Park in the past 2.5 years.

By Melissa Bogdany | Updated on August 09, 2004

MIAMI-AMB Property Corp. purchased an approximately 230,000-sf industrial facility in the city, for nearly $7.6 million. The price represents approximately $32.93 a sf.The seller of the property, within the Seaboard/Gratigny Industrial Park, was Edron Fixture Corp., a division of Leggett & Platt. The company, which occupied the whole building before AMB bought it, closed that location. The facility was a plating operation for chrome store fixtures for department stores.Michael Silver, first vice president of CB Richard Ellis Industrial Services, was the exclusive adviser arranging the sale agreement. Silver also has been named the exclusive leasing agent for the property.In the past 2.5 years, AMB purchased six industrial buildings totaling about 824,000 sf within Seaboard/Gratigny Industrial Park, which consists of about six million sf. In addition, AMB Property owns Beacon Centre, a 2.3-million-sf, class A business park also in the city.

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