Brooklyn-based Abingdon Square Partners acquired a 25,606-square-foot industrial building in Little River for $3,985,000, or $159 per square foot.
The 1956-built property, which is situated on a 0.89-acre parcel, is located just North of the intersection of NE 4th Avenue and NE 71st Street at 7240 NE 4th Avenue.
Central Commercial Real Estate broker Ari Dispenza represented Abingdon Square Partners in the acquisition. Vivian Gonzalez and Steven Gaunt of JLL represented the Seller, Lightheon LLC.
The property is located a few blocks north of Little Haiti, within close proximity to the MiMo District area of Biscayne Boulevard and waterfront residential neighborhoods Belle Meade, Bayside, Miami Shores, as well as its central location in the burgeoning Little River Industrial District.
Abingdon, a long term investor in the Miami market with properties in both Wynwood and Allapattah, intends to renovate and reposition the property to meet the growing demand from retail, creative office and maker tenants seeking space in the neighborhood.
About Central Commercial Real Estate: Central Commercial Real Estate is a boutique commercial real estate firm specializing in commercial sales and leasing in Miami's urban core, including Industrial, Office, Retail, Land, and Multifamily transactions. For more information, please call 786.577.4974.
