The newly built Royal Palm Doral completed in 2024 was sold by Blackstone. The project consists of two warehouses at 6450 and 6550 NW 97th Avenue on an 18.4-acre site.
The firm’s recent acquisitions, including the mixed-use building in Doral, demonstrate a keen eye for strategic investments that promise high returns. As the South Florida industrial market continues to flourish, EQT Exeter is well-positioned to capitalize on emerging opportunities.
South Florida’s industrial properties remain a valuable commodity for landlords and real estate investors as vacancies hover near record lows and rents continue to rise, developers and brokers say. However, with more warehouses being built and businesses less desperate for storage space, the wild days of annual double-digit rent hikes are long gone.
The New York-based investment giant sold the 115,741-square-foot industrial building at 13801 Northwest 112th Avenue to Boxer US, a Miami-based entity incorporated in May. The deal breaks down to $374 per square foot.
Rising development costs, whether from high land prices or increased construction costs, has led investors to shift away from evaluating sites based on historical lease prices and instead betting on the potential for rent growth that could be spurred by a lack of supply.