(Read more on the industrial market.)
HALLANDALE, FL-North Miami-based Giant Properties LLC has acquired 70,000 sf of warehouse space at 301-313-311-325-375 Ansin Blvd. for $7.1 million. The property consists of five buildings on three acres along the Interstate 95 corridor.
The site includes 41,000 sf of parking and a double-sided highway billboard sign. Giant anticipates holding the properties long term. The principals of Giant Properties are Michael Weinreb, Teddy Cohn and Eric Mann.
The buildings were owned by different entities so Giant had to negotiate separate deals. "We had been looking for some time for a property that we could put an assemblage together," Cohn tells GlobeSt.com. "It's difficult because, if one of the owners finds out, they might hold out."
The property is located in close proximity to the Mardi Gras Casino and the Gulfstream Park Racing & Casino in an area that is experiencing residential and retail growth. The property currently has 32,000 sf of vacant space that is available. Giant is in the process of refurbishing the units, including replacing the roofs and painting and electrical work. "The property will cater to people looking to do business in the area," Cohn says.
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