Cushman & Wakefield Arranges Sale Of Doral Office Property
Wednesday, August 28th 2024
Cushman & Wakefield has arranged the sale of 3511 Doral, a two-story,158,268-square-foot flex office building situated on nine acres located at 3511 NW 91 Ave. in Doral.
Wayne Ramoski, Mark Gilbert and Miguel Alcivar of Cushman & Wakefield represented the selling partnership consisting of Parmenter Realty Partners, Cudlob Capital and Prime Finance in the transaction. The property was acquired by Panattoni Development Company.
The sale price was not disclosed. The asset last sold in October 2021 for $27,250,000.
“After running a broad marketing process encompassing a myriad of strategies to users, investors, and developers alike, we identified a veteran international developer with an established track record of industrial development in South Florida. They were drawn to the opportunity to redevelop the property into a spec industrial project in the land constrained Airport/Doral submarket,” said Ramoski, Vice Chair at Cushman & Wakefield.
“We look forward to working on our next project in South Florida,” said Dayne Pryor, partner with Panattoni Development Company. “With a scarcity of available land in the area, the Doral site provides the opportunity to acquire a central infill location with excellent access to MIA and all major expressways in South Florida. The Doral Site is a strategic play and provides a unique opportunity to acquire a first class office facility that allows numerous redevelopment opportunities including industrial and further expansion of office and commercial uses.”
3511 Doral once served as the headquarters for US Southern Command and subsequently, the Miami Herald. The site, housing a mission-critical office building, benefits from a strategic location on 9 acres of land in the heart of Doral in Miami’s Airport West submarket. Excellent connectivity to the Miami International Airport, Miami’s CBD, and three major vehicular arteries are a few of its amenities.