Seagis Property Group LP (“Seagis”), one of South Florida’s most active industrial real estate investors and owners, announced it closed on a $14.75 million acquisition of a 6.3-acre, fully paved and secured, trailer/fleet parking lot and maintenance facility located at 13399 NW 113th Avenue Road in Medley.
The South Florida office of Duke Realty Corporation is breaking ground on a speculative development totaling 501,224 square feet of logistics space.
Investment giant Blackstone paid a combined $45.9 million to Elion Partners for five warehouse properties in Broward County. However, a source with knowledge of the deal said the transactions included eight properties in Miami-Dade. When considering all properties in Miami-Dade and Broward counties, the total price was $93.5 million.
The deal shows there remains strong demand for industrial real estate in South Florida as occupancy rates are high. North Miami Beach-based Elion Partners acquired these warehouses in 2018 and 2019, and the new sale prices were significantly higher than the previous deals.