{"id":1004175642,"date":"2017-05-08T06:42:34","date_gmt":"2017-05-08T14:42:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004175642"},"modified":"2022-12-08T21:53:06","modified_gmt":"2022-12-09T05:53:06","slug":"industrial-asset-in-miami-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/industrial-asset-in-miami-changes-hands\/","title":{"rendered":"Industrial Asset in Miami Changes Hands"},"content":{"rendered":"<p>By Razvan Cimpean<\/p>\n<div id=\"attachment_1004175643\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/2401-NW-69th-Street-in-Miami.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004175643\" data-attachment-id=\"1004175643\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/industrial-asset-in-miami-changes-hands\/2401-nw-69th-street-in-miami\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/2401-NW-69th-Street-in-Miami-e1494249655734.jpg\" data-orig-size=\"1157,867\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"2401 NW 69th Street in Miami\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;2401 NW 69th Street in Miami&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/2401-NW-69th-Street-in-Miami-e1494249655734.jpg?w=1024\" class=\"wp-image-1004175643 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/2401-NW-69th-Street-in-Miami-e1494249655734.jpg\" alt=\"2401 NW 69th Street in Miami\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/2401-NW-69th-Street-in-Miami-e1494249655734.jpg 1157w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/2401-NW-69th-Street-in-Miami-e1494249655734.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/2401-NW-69th-Street-in-Miami-e1494249655734.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/2401-NW-69th-Street-in-Miami-e1494249655734.jpg?resize=1024,767 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004175643\" class=\"wp-caption-text\">2401 NW 69th St. in Miami<\/p><\/div>\n<p>Cushman &amp; Wakefield Director Miguel Alcivar, Colliers Executive Vice President Jonathan Kingsley and CBRE First Vice President Michael Silver brokered the sale of the Econocaribe building, a 164,432-square-foot distribution warehouse\u00a0in Miami. The trio represented the sellers, Econo1 LLC, Joseph Luchese and Michelle Gersten in the transaction. Investor RLF Acquisitions LLC purchased the property for $7.5 million.<\/p>\n<p>Located at 2401 NW 69th St., near the Port of Miami, Miami International Airport and Miami Metrorail, the asset features a one-story warehouse and a two-story office. The warehouse includes 27 dock-high loading positions for up to 40 trucks and a receiving ramp that can accommodate an additional 13 trucks. The facility currently serves as ECU Worldwide\u2019s headquarters.<\/p>\n<p><em>\u201cThe Econocaribe building offering was an excellent opportunity to acquire a critical mass of functional distribution space for substantially below replacement cost in a Miami industrial market that is increasingly supply constrained,\u201d<\/em> Alcivar said in prepared remarks.<\/p>\n<p>With the help of attorney Norman Leopold, the marketing team also negotiated the acquisition from Miami-Dade County of an abandoned railroad spur that cut across the property.<\/p>\n<p><em>Image courtesy of Cushman &amp; Wakefield<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A team spearheaded by Cushman &amp; Wakefield, Colliers and CBRE professionals negotiated the sale of the 164,432-square-foot distribution building. The property serves as ECU Worldwide&#8217;s headquarters.<\/p>\n","protected":false},"author":753,"featured_media":1004507735,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,1492,21742],"tags":[32789,32763,34896,35378],"class_list":["post-1004175642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-miami","category-latest","tag-cbre","tag-colliers-international","tag-cushman-wakefield","tag-jonathan-kingsley"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Industrial Asset in Miami Changes Hands - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/industrial-asset-in-miami-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Industrial Asset in Miami Changes Hands\" \/>\n<meta property=\"og:description\" content=\"A team spearheaded by Cushman &amp; Wakefield, Colliers and CBRE professionals negotiated the sale of the 164,432-square-foot distribution building. 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