Finally some good news for once.
The local Catylist (commercial listing service) is showing 4 different industrial sales transactions occurring last week. The largest, a 40,000SF warehouse in Venice, went for $49PSF. Another, a 20,000SF metal warehouse with 2.3+ acres, and frontage on I-75, went for a strong $75PSF. A 14 year-old 7,500SF freestanding metal building on Porter Lake went for $80/ft. Finally, a 6,500SF building off of US301 sold for $80/ft. The final building was noted in my recent YouTube Video as being vacant. Glad to see that got sold. (Video has been noted).
I'm certainly heartened by the strong PSF numbers obtained on the last three properties, which averages just shy of $80/ft. Any week with 70,000+SF of sale absorption is a great one in my book.
Hopefully we'll see another round of these soon.
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