Seagis Property Group LP (“Seagis”), one of South Florida’s most active industrial real estate owners and investors, continues its expansion across South Florida with its latest acquisition.
The company announced it closed on a 5.75-acre development site located adjacent to Seagis’ Transal Park facility, which spans 113,000 square feet and is located at 8305 NW 27th Street. Seagis plans to break ground by year’s end on a modern, new 117,790-square-foot industrial building that caters to today’s industrial users.
Fairchild Partners’ Jose Juncadella and Sebastian Juncadella represented Seagis in the transaction, while Steve DiGiacomo and Patty Marquez of the DiGiacomo Group represented the seller, Overcom Trade Inc.Foundry Commercial has been engaged to manage the development process as the developer’s representative.
“The land site traded in 2014 for $4,4 million and sold for $16 million,” explained Marquez. “It is a major increase in land value in the Airport West, Doral area. The buyer plans to develop an industrial multi-tenant property on the site which consist of +/-120,000 SF. We are pleased to have represented the seller and facilitate this deal with Fairchild Partners.”
“This sale of undeveloped land in Doral may be the highest price per square foot yet,” added Di Giacomo. :It also demonstrates how aggressively Seagis is adding first-class warehouses to their South Florida portfolio.”
“We are pleased to continue to expand our South Florida presence and to do it in the highly desirable City of Doral,” said Bradlee Lord, Vice President, who is based out of Seagis’ local office in South Florida. “The Airport West submarket is one of nation’s most desirable logistics markets. We have owned the adjacent building for more than a decade and it is fully leased. We are eager to break ground on this new facility to meet current market demand for modern, high-quality warehouse and distribution space.”
Seagis @ Transal Park features approximately 230,000 square feet of industrial space. The first building, located at 8305 NW 27th Street in Doral, was constructed in 1996 and features 12,000 to 25,000-square-foot units with 24’ceiling heights, dock high loading, and a store front entrance. A second, brand new building, located adjacent to the first building, will feature 117,790 square feet of industrial space, 32’ clear ceiling height, 30 dock doors and an ESFR sprinkler system.
Suated in the heart of Doral, the Airport West Corridor of Miami offers unparalleled access to all major roadways including the Dolphin Expressway (SR836), the Palmetto Expressway (SR826) and the Florida Turnpike. The Park is also just minutes away from Miami International Airport and Port Miami.
This acquisition expands Seagis’ South Florida regional foothold to 113 logistics properties, totaling more than 6 million square feet of investment-grade industrial space.