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Seagis Picks Up Doral Industrial Properties For $29M

Seagis Property Group continued its South Florida buying binge by acquiring two Doral industrial properties in separate deals totaling $28.6 million.

The Philadelphia-based industrial real estate firm now owns 113 warehouse properties with more than 6 million square feet of space in South Florida, according to a press release.

In the first deal, an affiliate of Seagis paid $15.6 million for an 80,000-square-foot industrial park at 3075 Northwest 107th Avenue, records show. The deal breaks down to $195 a square foot.

Seller AllPlus Computer Systems bought the property for $10.8 million in 2007, records show. The industrial facility was built in 1995. Roger Zuniga and Stephen J. DiGiacomo with DiGiacomo Group represented AllPlus, which is relocating to another Doral industrial property owned by Brookfield Properties, according to the release.

“Allplus decided it was the right time to sell due a lack of inventory and continued demand for e-commerce distribution centers,” Zuniga said in a statement.

9700 Northwest 17th Street. Doral

In the second deal, Seagis bought a 57,202-square-foot distribution facility at 9700 Northwest 17th Street for $13 million, or $227 per foot, according to sources.

9700 Investment LLC, which is managed by David and Joseph Perez, sold the property. The Perez family owns a Doral-based cigar and tobacco making company. In 2001, they paid $3.6 million for the warehouse, which was completed in 1997, records show.

 “The building is set up for one or two tenants,” Seagis Vice President Bradlee Lord said in a statement. “The property will be immediately marketed for leasing,”

In 2021, Seagis closed on $238 million worth of real estate acquisitions in New Jersey, New York City and South Florida, the release states.

Earlier this month, Seagis dropped $29.5 million for a warehouse development site near Fort Lauderdale-Hollywood International Airport. The company also bought a warehouse near Miami Gardens for $8 million in October, and another Doral facility for $19.4 million in September.

 

Source: The Real Deal