MIAMI—One of the last 10-acre assemblages of land near the Palmer Lake commercial real estate development areas in the Miami Airport submarket has traded hands. The sale price: $9.1 million.
Avison Young senior vice president Jay A. Ziv and principal and managing director Michael T. Fay, represented the seller, Dade Mobile Home Park JV. DL Real Estate acquired the asset. Jack Thomas, Inc. assisted Avison on the deal.
"We are in the midst of a demand-driven market in the industrial sector with very few remaining parcels of land for industrial use, as most of undeveloped land parcels throughout Miami have been absorbed and those that remain are rapidly being absorbed," Fay tells GlobeSt.com. "This denotes the significance of the 3565 NW 36th Street sale, one of the last sizable parcels remaining in the Miami Airport submarket."
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