A Cushman & Wakefield team closed the $22.8 million sale of a Doral industrial campus that also could be used for offices, retail and hospitality.

SVF Transal Park LLC bought the development at 8200-8290 NW 27th St. northwest of the Palmetto Expressway and Northwest 25th Street, according to the Miami-Dade County property appraiser's office. 

Cushman & Wakefield capital markets team director Miguel Alcivar in Miami and executive managing director Mike Davis in Tampa led the team representing the seller in the deal that closed Jan. 23. Alcivar declined to disclose the seller except to say it's PR Transal Park LLC.

The limited liability company is affiliated with PGIM Real Estate, according to state records. PGIM Real Estate is the real estate investment business of PGIM Inc., the global investment management businesses of Prudential Financial Inc., according to PGIM Real Estate's website.

Transal Park is a six-building, 134,175-square-foot campus sits on 10.4 acres. The transaction breaks down to $170 per square foot of building space.

The property now is used as office and industrial space, which is common with companies that want to have their office and warehouse in the same building. But the zoning allows for other commercial uses, making this a flex campus, Alcivar said.

It also gives the buyer the upside of being able to have a mixture of uses in the future — something the team had to communicate to buyers, he added.

One of the challenges for Cushman & Wakefield was “getting people to buy into the upside that still existed for a property that in its current form is well-stabilized, as a flex property. I think what allowed people to get comfortable with underwriting upside potential were those factors I just described: the ability to reposition it and the uses that are higher and better than the current form,” Alcivar said.

The rest of the Cushman & Wakefield team that worked on the transaction was managing director Dominic Montazemi and executive director Scott O'Donnell, both in Boca Raton; senior director Michael Lerner in Orlando; and executive director Rick Brugge in Tampa. Also, Cushman & Wakefield leasing partners in Miami — Wayne Ramoski, executive director, and Gian Rodriguez, director — worked on the deal.

The property west of Miami International Airport was 88 percent leased at the time of sale with some of the tenants being medical supplies and services company US MED and marketing, branding and printing company DDRepro Graphics and Marketing.