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News release

Miami

Jones Lang LaSalle Brokers $3 Million Warehouse Sale in Miami


MIAMI, July 7, 2010 — Jones Lang LaSalle has closed the sale of a 40,000-square-foot warehouse in Miami for Laiacona Enterprises, Inc.  Farartis, LLC purchased the property, located at 12050 NW 28th Avenue, for $2.8 million (or $70.00 per square foot). The property will be used as a commercial bakery once the buyer’s renovations are complete.

Jones Lang LaSalle Executive Vice Presidents Steven Medwin, SIOR, CCIM and Harry Wardell, SIOR were assisted by Vice President Nick Wigoda in representing the seller, Laiacona Enterprises, Inc a Florida Corporation.  Osmany Cruz with Florida Realty of Miami represented the buyer, which is based in Uruguay, operating under the name Pagnifique. The firm produces high-quality baked goods and will be relocating from its current facility in Doral once the new bakery is operational.

Laiacona Enterprises constructed the building in 1995 and expanded it in 1998. It is situated on nearly two acres in the Gratigny Central Industrial Park and was used by the seller to store and distribute products such as Zephyrhills and San Pellegrino water. The seller outgrew the building and now leases more than 120,000 square feet in Medley.

Jones Lang LaSalle has approximately 380 employees in Florida providing real expertise across all major markets within the state including agency leasing, property management, project and development services, capital markets and tenant representation.  The firm is also responsible for the leasing and management of nine million square feet of Class A office space across the state. 

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.6 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with approximately $40 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.