Greenspoon Marder Represents Client In Sale Of A Multi-Million Industrial Warehouse Facility in Miami
May 22, 2020
Miami, FL – May 7, 2020 – Greenspoon Marder represented GFTF, LLC in the sale of an 87,100 square foot industrial warehouse facility located at 7400 NW 37th Avenue, Hialeah, FL. Greenspoon Marder Partner David Weisman, a Board Certified Real Estate Lawyer, provided real estate and corporate counsel to the seller and served as closing and title agent. The sale price of the transaction was $7,550,000.00. The purchaser was Chicago based Plage Associates, LLC, an affiliate of Zaragon, Inc. with a loan in the amount of $5,662,500.00 from CIBC Bank USA. Mr. Weisman also handled the negotiation and drafting of a long term triple net leaseback of the property to an affiliate of the seller, a leader in supplying manufactured steel products to South Florida’s robust pipeline of active commercial developments.
“With returns so low on liquid investments and mortgage rates so reasonable, quality real estate provides solid, dependable returns for investors,” comments Mr. Weisman. “As long as there are good assets available, the transactions will continue to close. The commercial real estate market has remained surprisingly active during the shutdown.”
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