MIAMI-A 75,000-square-foot industrial building in Gratigny Central Industrial Park has sold for $3.6 million. American Tire Recycling Group bought the building, which is located at 3551 NW 116th Street.
Jones Lang LaSalle Vice President Nick Wigoda, Managing Director Steven Medwin, and Executive Vice President Harry Wardell represented the seller, Forty Seventh Avenue LLC. JLL also represented Forty Seventh Avenue when the company purchased the property in 2003.
“Even though the property was competing with several large vacant buildings for lease, we were able to achieve an above market sale price in a difficult market,” Wigoda tells GlobeSt.com. “This is 75,000 square feet of new and positive absorption for a market that has been lagging behind the Medley and Airport West submarkets.”
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