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Deals & Dealmakers

Lee & Associates South Florida Closes Sale of South Miami-Dade Industrial Assemblage

Lee & Associates South Florida Senior Vice President Andrew Whitby closed out 2022 on a high note, brokering the sale of an industrial warehouse and storage yard assemblage in South Miami-Dade County. Whitby represented the seller and successfully procured the buyer in the deal.

The $2.4 million transaction closed on Dec. 21. Wolmers Group, LLC sold the 10460 SW 187 Terrace assemblage to South Florida Auto Recovery Group. The buyer plans to utilize the site for its business.

“South Miami-Dade is experiencing tremendous growth and development activity, which in turn is creating strong demand for industrial product,” Whitby said. “In this instance, we were able to identify the right buyer for the assemblage, which has a desirable combination of existing warehouse space and surplus land. We expect to continue seeing major interest in this submarket in 2023.”

The three-property site acquired by South Florida Auto Recovery Group includes a 6,454-square-foot building – with a mix of warehouse and office space – and a fully fenced, paved storage yard featuring three storage sheds and an additional covered mechanic area. It is just one mile from US-1 and two miles from Florida’s Turnpike.

Whitby specializes in industrial sales and leasing. He joined Lee & Associates South Florida in early 2022, bringing seven years of experience in both sales and leasing covering all areas of commercial real estate, including office, retail, apartments and a heavy focus in warehouse and industrial transactions.

Prior to joining Lee & Associates, Whitby served as a commercial real estate sales and leasing specialist with Southeast Property Management. While there, he aided clients with commercial property sales, leasing and property management, developing and executing strategic marketing plans, conducting ROI analysis on properties for potential investors and ‘best use’ analysis on specific properties.

Whitby’s extensive background in finance includes seven years working for a multi-strategy hedge fund, with a focus on credit and equity markets. He also has experience as a strategist and trade specialist in fixed income, equities, currencies and commodities.

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