MIAMI—In a record setting sale, the Furniture Market building in Hialeah, FL has traded hands. The warehouse property sold for $6.5 million, or $50.83 per square foot.

According to Sperry Van Ness, at over $50 per square foot, the sale represents one of the highest prices on a warehouse over 100,000 square feet in the Airport East submarket in the past five years. Atlantic Investors Group acquired the asset through affiliate 1000 Hialeah Partners.

“Expanding our presence in Miami-Dade, and Hialeah in particular, allows us to provide an investment opportunity that is readily understood by our clients, who like the idea of participating in the area's strong growth," says Sandy Stice, president of Atlantic. “Joel extracted a 'top of the market' price for his client, but did a masterful job of helping us with getting our financing and working with our lender, Florida Community Bank, to help them understand the unique attributes of this building and location.”