3595 NW 125 Street - Miami, FL

Date: February 2013
Address: 3595 NW 125 Street
City: Miami
Sq. Ft: 229,000
Price: $20,600,000

Price Per Sq. Ft: $90
Year Built: 1982
Buyer: TIAA-CREF
Seller: Prologis, Inc.

Transaction Details: TIAA-CREF purchased +/-229,285 sq. ft. of warehouse space in the market known as Gratigny.  The address is3595 NW 125th Street. The seller was Prologis Inc, the world’s largest owner of industrial real estate.

This was a multi-warehouse sale; two buildings totaling +/-229,000 sq. ft. (+/-162,000 sq. ft. and +/-67,000 sq. ft).  The sale price was almost $90 per sq. ft.  The Gratigny warehouses have 28′ ceilings, 24 dock doors, 2 ramps, and approximately 12% office build out.  The properties sit on 10.13 acres and were said to have been 100% leased at the time of sale.