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Doral Commerce Park Phase I Sells Out

MIAMI-The 200,000-sf first phase, a $16-million project, saw seven units sell for a combined $4.3 million--at an average of $70.60 a sf. Pre-sales for phase two are under way.

By Melissa Bogdany | Updated on August 27, 2004

MIAMI-The first phase of Doral Commerce Park, a $16-million project that consists of 200,000 sf of office/warehouse and distribution space in the city, has sold out.Alliance Cos. recently closed on the sale of seven units totaling 60,200 sf of space for nearly $4.3 million. The 16 units left in the project are set to close within 45 days. In addition, pre-sales for the second phase have begun.In the most recent deals Saez Investment Inc. bought three units totaling 25,800 sf for $1.8 million, or about $69.77 per sf; ACI Holdings Corp. bought two units totaling 17,200 sf for nearly $1.3 million, or about $72.67 per sf; and W&K Investments LLC bought two units totaling 17,200 sf for $1.2 million, or approximately $69.77 per sf.Ernesto Casal and Gordon Messinger of Alliance Cos. represented Doral Commerce Park in the sales. The units went for an average of $70.60 per sf.Doral Commerce Park, located at the northwest corner of Northwest 58th Street and Northwest 97th Avenue in the Airport West submarket, has 400,000 sf of office/warehouse and distribution space for sale and for lease.”More than 50% of all industrial space in Airport West is occupied by owner-users,” according to Robert Cambó, president of Alliance Cos. “Small business owners will continue to choose owning their facility versus renting because it allows them to simultaneously earn appreciation and build equity, while creating depreciation for income tax purposes.”

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