Avison Young facilitated the sale of a 34,252-square-foot office/flex facility in Miami for $9.7 million, marking a significant investment into the growing electrical solutions sector.

Target Information

The Syntheon building, located at 13755 SW 119th Avenue, Miami, Florida, encompasses a total area of 34,252 square feet. This office/flex facility was recently sold for $9.7 million and will be utilized by its new owner, Statewide Electrical Contractors, a local electrical solutions provider. The property previously served Syntheon, who is moving its operations to the Doral Airport West submarket.

Industry Overview in Florida

Florida's commercial real estate landscape is characterized by a robust owner-user market, driven by strong demand for versatile office and flex spaces. The Miami metropolitan area, in particular, has seen substantial growth due to its strategic location and infrastructure, including major thoroughfares such as Florida's Turnpike, which enhances accessibility and visibility for businesses.

The Kendall industrial-office corridor, where the Syntheon building is situated, benefits from a diverse range of industries operating in the vicinity.