Follow on Google News News By Tag Industry News News By Place Country(s) Industry News
Follow on Google News | Marcus & Millichap's Alex Zylberglait Tapped to Sell Two Cold Storage Facilities in MiamiBy: Alex Zylberglait Marcus & Millichap Investment Broker Alex Zylberglait is brining to the market two cold storage buildings in Doral and Miami. Located at 1375 NW 89th Court, the Doral facility consists of 18,152 square feet with 16 separate bays with their own dock-high loading area. With no vacancy, the building is home to established tenants in the seafood and meat industry serving the local community. The asking price is $3 million, with a projected cap rate of 10.11 percent. Located at 500 NE 185th Street, the Miami facility consists of 28,500 square feet with 22-dock-high loading bays each measuring 1,000 square feet. With no percent vacancy, the building provides 6,500 square feet of office space for tenants using the freezer space. The asking price is $3.5 million, with a current cap rate of 10.38 percent and additional development potential. According to a 2016 report released by Deerfield Beach-based Zion Research, global demand for cold chain market was valued at $110.2 billion in 2014 and is expected to reach $271.9 billion in 2020. The report notes that advancements in health care, increasing demand for frozen and chilled food & beverage due to changing lifestyle patterns and an increasing population are expected to fuel demand for cold chain storage in the near future. That is particular true in South Florida, where suburbs are increasingly becoming urbanized. Both properties are strategically located near major highways, with easy access from Miami Gardens to Interstate 95 and from Doral to State Road 836 and Dolphin Expressway, giving access to Miami International Airport and Port Miami. "With a limited supply of small bay cold storage across Miami-Dade, these facilities represent a good investment opportunity with added-value potential," Zylberglait said. "What makes these niche opportunities valuable are their strategic location in submarkets with high barriers to entry and the fact the demand for this type of assets exceeds supply." About Marcus & Millichap Investment Broker Alex Zylberglait Alex Zylberglait is Senior Vice President of Investments in the Miami office of Marcus & Millichap. Since joining the firm in 2003, he has closed more than $600 million in deals involving office, single-tenant net-lease, industrial, land and retail properties ranging in value from $1 million to $20 million. Nearly 15 years of brokering deals in South Florida gives Alex the ability to deliver first-hand intelligence on properties and market conditions to optimize execution. Alex and his team of commercial real estate specialists provide detailed market analysis, underwriting and investment services for clients around the country and abroad. Raised in South America, Alex is bicultural and bilingual. He has earned the designations of Certified Commercial Investment Member (CCIM) and Society of Industrial and Office Relator (SIOR.) He received his B.A. from the University of California and his MBA with a concentration in finance and real estate from the University of Illinois. End
Account Email Address Account Phone Number Disclaimer Report Abuse
|
|