Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi, Gary Gabriel, Adam Spies and Anthony Pasqual of Cushman & Wakefield represented the seller, Macy’s, in the transaction. LBA Realty, an Irvine, California-based full service real estate investment and management company, acquired the property.
“This prime infill location saw tremendous interest from a variety of capital sources, including industrial developers and investors, as well as from multifamily and retail groups,” Brugge said.
Located at 4130 W. Gandy Boulevard, the property includes a 645,241-square-foot warehouse and a Macy’s Furniture Gallery. The one-story building includes 108 48’ dock doors and one drive-in door, cross-dock loading, 225 parking spaces and interior and exterior LED lighting. Through ease of access to multiple highway networks, including the Selmon Expressway and Interstates 275 and 75, the property is conveniently and centrally located.