Six warehouse buildings in Davie Commerce Center sold for $14.5 million, a loss from their last trade eight years ago.
Matecumbe Rand Davie LLC, managed by Steven Santolla in Margate, sold the combined 187,772 square feet of industrial buildings to Samjaz Nova Davie, managed by commercial real estate investor Sam Jazayri in Pembroke Park. Southern Farm Bureau Life Insurance Co. provided a $10.5 million loan to the buyer.
The price equates to $77 per square foot. The buildings are located at 6800, 6825, 6851 and 6900 S.W. 21st Court, plus 2230 and 2240 S.W. 70th Ave. That’s on the south side of Interstate 595/State Road 84 just east of University Drive.
They last sold for $16.3 million in 2007. The buildings were constructed on the 11.1-acre site in 1989.
SAR Apartment Capital LLC is a national multifamily investment firm with over $130,000,000 of assets under management.