MIAMI-Eighteen months. That’s how long it took for a distribution facility in Doral to make its way through the foreclosure process and land in the hands of its new owner.
K.G. International waited for the 44,100-square-foot Emerald Farms property to become available because it couldn’t find another suitable building. The chemicals and packaging materials supplier paid $3.7 million for the property and plans to move in by March 2012, doubling its size.
Joel Kattan and Hernan Prohaszka, senior directors of Franklin Street Real Estate Services in Fort Lauderdale, represented the buyer, GK Emerald, LLC, the entity that includes K.G. International and a sister company. The seller is Wells Fargo Bank, N.A., as trustee for JP Morgan Chase.
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