In a recent transaction, Northwood Investors purchased a distribution warehouse in Doral for $46.5 million as part of a larger deal involving three properties. The 201,827-square-foot warehouse, located at 10000 N.W. 15th Terrace and previously owned by UBS Realty Investors, was sold to Northwood for $230 per square foot. This marks the second time the property has been sold since its last trade in 2012 for $26 million.
The other two properties included in this portfolio deal were located in Baytown, Texas and Braselton, Georgia and were also fully leased with a total combined space of 1.8 million square feet. Sunbelt Logistics was the seller while Apollo provided financing through JLL’s Bobby Norwood with a mortgage totaling $97 million.
The sale was facilitated by JLL’s Britton Burdette,Trent Agnew,and Luis Castillon.The Doral warehouse sits on an expansive12-acre site that it has occupied since its constructionin2000.Its primary tenant is Monat Global,a company specializingin hairand skincare products.
Northwood Investors is known asa vertically-integrated real estate companywithpropertiesacrossthe United Statesand Europe under their management.
