Owner/Investor Seeking Urban Infill Site

SITUATION

Many “last mile” industrial users seek industrial space near Miami’s urban core.  The third largest data storage company in the world was no different.

  • The Miami Industrial market remains one of the country’s hottest, experiencing low vacancy and explosive rent growth.
  • Infill locations are virtually inexistent because highest and best use result in alternative uses.

STRATEGY

  • The Blanca team set out to uncover “off-market” opportunities that would meet the client’s needs and identified the McArthur Dairy property as a unique opportunity given the parent company’s recent bankruptcy filing.
  • To avoid public auction, the Blanca team provided strategic guidance to position MR. Mana at a distinctive advantage.
  • The bankruptcy judge requested that our buyer maintain the ongoing milk business as it accounts for 30% of South Florida’s supply.
  • The team facilitated the negotiation of an operational agreement with Cream-O-Land, taking over a 130-employee company, and performed the due diligence of over 175,000 SF of milk production and distribution facilities in 3 counties.

RESULTS

  • The Blanca team manages every aspect of the acquisition and due diligence during an unprecedented pandemic.
  • Our client maintained the ability to build additional industrial space creating a win-win for all sides.
  • An iconic Miami brand was salvaged, milk production continued during the pandemic, and we found our client a “needle in a haystack” property.