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PGIM Sells Transal Park for $22.8M

JV Acquires Six Bldg Flex Portfolio Totaling 133,000 SF
January 30, 2018
Foundry Commercial and American Realty Advisors have acquired the six-building Transal Park at 8200-8290 NW 27th St. in Miami, FL from PGIM Real Estate for $22.8 million, or about $170 per square foot.

The single-story flex park totals 134,175 square feet on a 10.4-acre site. The buildings were constructed in 1989 and 1990 in the Miami Airport West industrial submarket.

The assets were 88-percent leased at the time of sale to multiple tenants, including United States Medical Supply, South Florida Health Management, Office Bargain Center and Miami Vet Center.

Mike Davis, Miguel Alcivar, Dominic Montazemi, Scott O'Donnell, Michael Lerner, Rick Brugge, Wayne Ramoski and Gian Rodriguez with Cushman & Wakefield's capital markets and leasing teams represented the seller. The buyers handled the sale in-house.

Please see CoStar COMPS #4114012 for more information on this transaction.
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