An Atlanta-based industrial investment group paid $8.9 million for a warehouse west of Little Haiti in Liberty City.
MDH Partners’ affiliate MDH F1 Miami NW 74 LLC closed on the 102,000-square-foot building at 1350 Northwest 74th Street in Miami. Property records show G&G Real Estate Investments LC sold the building.
The deal is the first for MDH in Miami. The investment and development firm, founded by Jeffrey Small and Michael Pelt in 2005, has acquired more than 14 million square feet of space in 15 cities, according to its website.
Andy Charry of Apex Capital Realty represented the buyer and Ricardo Grinberg represented the seller. Charry declined to comment on the buyer’s identity, but said the buyer plans to make some improvements and break up portions of the warehouse for multiple tenants.
JLL will handle commercial leasing.
Charry said there’s substantial demand for properties closer to the urban core. “A lot of tenants are being pushed out of Allapattah,” he said. “From a location perspective, [the warehouse] is situated pretty good.”
The building sits on a 3.5-acre lot and was built in 1955.
Nearby, Avra Jain and David Martin have plans for a 95,000-square-foot flex warehouse development across from Miami Northwestern Senior High School.