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$23M Leasehold of LSG Sky Chefs Facility by Miami International Airport Sold
The leasehold interest of a two-building, 211,852-square-foot warehouse and office property near Miami International Airport has been sold for $22.75 million. The property is NNN leased to LSG Sky Chefs as its mission-critical facility that provides on-board airline catering services for major airlines operating out of Miami International Airport
HFF’s Manuel de Zárraga, Tracey Goo and Luis Castillo marketed the property on behalf of the seller, iStar Inc., and procured the buyer, the Dayan family from Brazil. Safety, Income & Growth Inc., managed by iStar, will hold the fee-simple land position in its portfolio of ground leases.
Situated on 6.71 acres at 3630 Northwest 25th St., 3500 Northwest 24th St. and 2401 Northwest 36th Ave., the property includes two-story buildings that feature refrigerated areas, large-scale commercial kitchens, freight elevators, 47 dock-high loading doors and executive offices. Also included is a land parcel used as a vehicle maintenance facility.
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