MIAMI—The supply of industrial real estate for sale in Miami is low—and the demand is high. Investor demand is at a premium.
LMS Realty, LLC is taking advantage of the seller's market. LMS just sold a 50,000-square-foot warehouse property to publicly-traded REIT Terreno Realty Corp. The sale price is $5.1 million.
Jones Lang LaSalle managing director Steven Medwin, along with vice president Nick Wigoda, completed the transaction on behalf of the Miami-based seller. Terreno is based in San Francisco. The warehouse is currently occupied by CaribTrans, Inc., a Caribbean shipping company offering air and ocean freight services.
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