{"id":670,"date":"2019-03-27T19:09:48","date_gmt":"2019-03-27T23:09:48","guid":{"rendered":"https:\/\/www.lee-associates.com\/miami\/?p=670"},"modified":"2019-05-15T15:42:55","modified_gmt":"2019-05-15T19:42:55","slug":"miami-investor-picks-up-industrial-site-next-to-florida-turnpike","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/southflorida\/2019\/03\/27\/miami-investor-picks-up-industrial-site-next-to-florida-turnpike\/","title":{"rendered":"Miami Investor Picks Up Industrial Site Next To Florida Turnpike"},"content":{"rendered":"<p>Investor\u00a0<strong>Peter Greither<\/strong>\u00a0sold an industrial property next to the Florida Turnpike in Miami to an affiliate of\u00a0<strong>Rodan Property Management<\/strong>\u00a0for $12.25 million.<\/p>\n<p>Greither\u2019s\u00a0<strong>Greither Holdings LC<\/strong>\u00a0sold the 5.8-acre property at\u00a0<strong>14121 to 14267 Southwest 119th Avenue<\/strong>. The buyer is\u00a0<strong>Rodan X LLC<\/strong>, which is tied to\u00a0<strong>Alireza Shadravan<\/strong>\u00a0of Coconut Grove, according to\u00a0<strong>Central Commercial Real Estate<\/strong>.<\/p>\n<p><strong>Enrique Jordan<\/strong>\u00a0of Central Commercial Real Estate represented the seller, while\u00a0<strong>Stephen Hendricks<\/strong>\u00a0of\u00a0<strong>Southeast Property Management<\/strong>\u00a0brought the buyer.<\/p>\n<p>The deal includes about 121,500 square feet of warehouse space just west of the Turnpike. The property is anchored by\u00a0<strong>KD Nutra<\/strong>, an Omega-3 vitamin company under the\u00a0<strong>KD Pharma Group<\/strong>umbrella.<\/p>\n<p>Rents in the area for small bay industrial space average $12 per square foot, gross, Jordan said.<\/p>\n<p>Records show the site last sold in 1995 for just under $1 million.<\/p>\n<p>Rodan affiliates also own industrial properties farther west at the\u00a0<strong>Rodan Industrial Center<\/strong>\u00a0at\u00a0<strong>14160 Southwest 139th Court<\/strong>\u00a0and in Hialeah.<\/p>\n<p>Investors\u2019 appetite for industrial warehouses\u00a0remained strong\u00a0in 2018, but a slowdown could be coming. According to the\u00a0<strong>Commercial Industrial Association of South Florida<\/strong>\u2019s annual industrial market report, the cost of land acquisitions and construction is becoming too expensive for developers to consider new projects, and the industrial boom is expected to take a hit this year\u00a0as a result.<\/p>\n<p>&nbsp;<\/p>\n<p><em>Source:\u00a0\u00a0<a href=\"https:\/\/therealdeal.com\/miami\/2019\/03\/21\/miami-investor-buys-industrial-site-next-to-florida-turnpike\/\" target=\"_blank\" rel=\"noopener noreferrer\">The Real Deal<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investor\u00a0Peter Greither\u00a0sold an industrial property next to the Florida Turnpike in Miami to an affiliate of\u00a0Rodan Property Management\u00a0for $12.25 million. Greither\u2019s\u00a0Greither Holdings LC\u00a0sold the 5.8-acre property at\u00a014121 to 14267 Southwest 119th Avenue. The buyer is\u00a0Rodan X LLC, which is tied to\u00a0Alireza Shadravan\u00a0of Coconut Grove, according to\u00a0Central Commercial Real Estate. Enrique Jordan\u00a0of Central Commercial Real Estate represented the seller, while\u00a0Stephen Hendricks\u00a0of\u00a0Southeast Property Management\u00a0brought the buyer. The deal includes about 121,500 square feet of warehouse space just&#8230;<\/p>\n","protected":false},"author":76,"featured_media":671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,105],"tags":[148,149,150,151,152,153,154,155,156,157,158],"class_list":["post-670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-industrial","tag-14121-sw-119-avenue","tag-14267-sw-119-avenue","tag-alireza-shadravan","tag-central-commercial-real-estate","tag-enrique-jordan","tag-greither-holdings-lc","tag-peter-greither","tag-rodan-property-management","tag-rodan-x-llc","tag-southeast-property-management","tag-stephen-hendricks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.7 (Yoast SEO v28.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Miami Investor Picks Up Industrial Site Next To Florida Turnpike - Lee &amp; 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