Seagis Property Group LP (“Seagis”), one of South Florida’s most active industrial real estate investors and owners, closed on a two-property industrial real estate portfolio located in Medley.
Both properties were sold by Cemex USA, a global building materials company. Located at 10900 NW 138th Street, the first property is a seven-acre site, home to a decommissioned cement plant that Seagis will redevelop into a 130,150-square-foot Class-A warehouse. The state-of-the-art, rear-load facility will be delivered in late 2023.
The second property, located across the street at 11100 NW 112th Court, is a 2.35-acre site with an existing 11,510-square-foot warehouse facility that is leased and utilized by Cemex as a truck maintenance facility.
Both Seagis and Cemex were represented in the sale transaction by Colliers’ Steve Wasserman and Erin Byers.
“We are excited to add these two properties to our South Florida footprint,” said Bradlee Lord, Vice President of Seagis, who is based out of the company’s South Florida office. “The properties are highly visible with substantial frontage along Route 27. They offer immediate access to both Route 27 and the Florida Turnpike. The location, new development prospect, and existing building provide a unique opportunity to enhance our South Florida portfolio with our long-term portfolio construction goals in mind.”
This announcement comes on the heels of the company’s acquisition of the adjacent, 6.3-acre, fully paved and secured, trailer/fleet parking lot and maintenance facility located at 13399 NW 113th Avenue Road. The property features a newly renovated, 14,056-square-foot warehouse with 12 drive-in doors, situated on an oversized lot with substantial frontage on Okeechobee (Route 27). The property is fully leased for the next three years by Gables Transport, Inc., a national freight services and truck repair company.
This acquisition expands Seagis’ South Florida regional foothold to 116 logistics properties, totaling more than 6 million square feet of investment-grade industrial space.