Seagis Expands Miami-Dade Industrial Portfolio With $20M Doral Deal

Seagis Property Group has expanded its industrial real estate portfolio in Miami-Dade County with the $20.4 million acquisition of a warehouse in Doral.

The Conshohocken, Pennsylvania-based firm, led by CEO John Begier, purchased a 62,000-square-foot facility at 2601 Northwest 104th Court, according to property records. The sale price equates to roughly $328 per square foot—nearly three times the property’s previous sale price a decade ago. Hector Catano of Cornerstone International Realty brokered the deal.

The seller is an entity managed by German Valencia, CEO of floral import and distribution company Galleria Farms. Valencia’s firm, which purchased the 2.8-acre property for $6.8 million in 2015, will continue to lease the warehouse as its sole tenant. The building was originally constructed in 1993.

Seagis now controls more than 5.2 million square feet of industrial space across South Florida, including 1.5 million square feet in northwest Miami-Dade, according to the company’s website.

Earlier this year, Seagis secured $87.7 million in refinancing for seven industrial assets in northwest Miami-Dade totaling over 787,000 square feet. The properties were acquired between 2005 and 2012 for a combined $48.3 million.

The company has been active in Medley as well. In 2022, Seagis bought a site at 10900 Northwest 138th Street for $17.5 million, where it recently completed a 130,000-square-foot industrial park. That same year, it acquired three adjacent small warehouses for $6.2 million and a 6.4-acre industrial site nearby for $14.8 million.

In 2023, Seagis sold a 25-property industrial portfolio spanning 1.4 million square feet in Miami-Dade and Broward counties to Boston-based Longpoint for $262 million. The transaction was the largest industrial real estate deal in South Florida that year.

Despite these significant moves, Miami-Dade’s industrial market is showing signs of cooling. According to a recent Colliers report, the county’s industrial vacancy rate rose to 6.2% in Q2 2025, up from 4.1% during the same period the previous year. Average asking rents dipped slightly to $16.85 per square foot, down from $17.02.

Source: The Real Deal