Quartin provided $4.4 million in seller financing, allowing the transaction to close amid a continuing lack of liquidity, says Jay Ziv, senior vice president and partner of Colliers Abood Wood-Fay who handled both sides of the deal. "The sellers were capable of doing that because they had owned the building for so long," Ziv tells GlobeSt.com.
Tropical Paperbox, a family-owned custom box manufacturer whose history dated back to 1941, closed its Miami plant late last year as a result of the market downturn and offshore competition, Ziv says. He began marketing the 119,000-square-foot industrial property earlier this year after all the equipment was cleared out, and it turned out a good fit for Dahro because of the nature of its business and proximity to the airport, he says.
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