Seagis Property Group LP (“Seagis”), one of South Florida’s most active industrial real estate investors and owners, closed on a $9.4 million acquisition of a 2.78-acre, fully secured and improved, trailer/fleet parking lot located at 8100 NW 25th Street in Doral.
Anticipating an upward trajectory in demand for distribution and storage space, Seagis Property Group plans to invest in more industrial assets in South Florida, a company executive told the Business Journal.
“The acquisitions will come as stresses on the supply chain and the growth of e-commerce companies continue to escalate rates to lease industrial real estate in the region,” said Erin Plourde, senior VP of Seagis Property Group. “The main challenge is industrial is the most appealing asset class these days because of the market demands there. Everyone is chasing industrial.”
Transwestern Real Estate Services’ South Florida industrial team negotiated a five-year, 38,900-square-foot lease renewal for TMC Engine Center at 8545 NW 79th Ave. in Medley.