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li and Faisal Ahmed, owners of Miami Lakes Automall and other Florida dealerships, have made a significant investment in South Florida's industrial market with their purchase of a Miami Lakes warehouse for $38.2 million. The 190,707-square-foot facility at 14100 Northwest 60th Avenue was acquired by an entity managed by the Ahmeds from an affiliate of New York-based Brookfield Asset Management, which had paid $22.1 million for the property in 2020.

    The deal was brokered by a Newmark team led by Steve Medwin and Nick Wigoda. The warehouse has two stories and sits on a 13-acre site that includes tenants such as Taggart International and Amerifleet Transportation. A portion of the land can be used for parking or expansion, according to a press release.

    The Ahmeds have been active in South Florida's real estate market, with Ali Ahmed purchasing Biscayne Centre, an eight-story office building in North Miami, for $39 million last year. Brookfield Asset Management, led by CEO Bruce Flatt, has also been making significant investments in the region, including a recent purchase of Turtle Cove, a 444-unit apartment complex near West Palm Beach.

    Brookfield has a substantial presence in South Florida, with a portfolio that includes a majority stake in Ritz-Carlton Key Biscayne and a previous sale of the Diplomat Beach Resort to a joint venture. The firm manages $268 billion in real estate assets across more than 500 million square feet globally.