A warehouse near the Opa-locka airport just sold for $2.85M. Buyer is a military contractor
A defense contractor for the U.S. Coast Guard and U.S. Armed Forces dropped millions on a warehouse center in Opa-locka, a mile from the 850,000-square-foot Amazon Mega Distribution Center.
The Opa-locka based aerospace company Sherwood Aviation bought the 22,620-square-foot warehouse space at 4600 NW 128th St. for $2.85 million, or $125.99 per square foot. The deal closed on Friday.
The company is based at 4690 NW 128th St. and is looking to expand, said Matthew Rotolante, the South Florida president for Lee & Associates. Sherwood Aviation will own and operate out of both locations.
Rotolante and his colleague Conner Milford, vice president of Lee & Associates, represented the seller, Brain Power Investments LLC.
“The deal almost caught the virus but the bank liked the borrower,” Rotolante said.
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Brian Power Investments LLC listed the warehouse in October, Rotolante said. The listing to sale process would on average take about 45 days for a warehouse transaction, including 15 days for finalizing financing, Rotolante said. But with more regulatory compliance and banks hesitating to lend, he said, banks alone are taking 60 to 75 days.
The Small Business Administration provided the financing, Rotolante said.
Sherwood Aviation provides equipment and maintenance for military aircraft. The warehouse provides both storage and office space, front and rear loading with six dock-height doors.
This story was originally published April 16, 2020 at 2:30 PM.
