Seagis Property Group buys the Airport International Center in Miami

The 207k sf industrial complex traded for about $114 psf

TRD MIAMI /
Sep.September 25, 2017 12:15 PM

Airport International Center; From Left: Jose Lobon, Christian Lee, Chris Riley (Credit: CBRE)

Seagis Property Group just added another industrial park to its portfolio. The company paid $23.5 million for the Airport International Center in Miami, property records show.

The 207,000-square-foot, two-building industrial complex at 5501-5595 Northwest 72nd Avenue traded for about $114 per square foot.

An entity of Dallas, Texas-based Lincoln Property Co. sold the building. Records show Lincoln Property Co. bought the property in 2006 for $14.4 million. CBRE’s Christian Lee, Chris Riley and José Lobón represented the seller.

The warehouse sits on nearly 10 acres and was built in 1994, records show. It’s 95 percent leased, according to a CBRE press release. Features include small-bay warehouse spaces of about 4,050 square feet with docks and ramps, according to LoopNet.

Conshohocken, Pennsylvania-based Seagis Property Group also owns the Doral Logistics Center, which it fully leased, last month. The acquisition of Airport International Center adds to its 4.8 million-square-foot portfolio in South Florida, according to the press release.

The Airport International Center is located in the Miami Airport submarket – a hot spot for industrial developers. More than 10 million square feet of industrial space is under construction in Florida, with about 2.4 million square feet being delivered Miami Dade, according to a recent Cushman & Wakefield industrial report.


Related Articles

arrow_forward_ios
Ron Bergeron with 3310 Northwest 24th Street (Credit: Facebook and Google Maps)

“Alligator Ron” Bergeron sells properties near Miami airport to Prologis

“Alligator Ron” Bergeron sells properties near Miami airport to Prologis
Cusano’s Italian Bakery at 6806-6814 North State Road 7 (Credit: Google Maps)

Cusano’s Italian Bakery buys out landlord for $14M

Cusano’s Italian Bakery buys out landlord for $14M
South Florida’s industrial market could benefit from the coronavirus pandemic

A safe bet: South Florida’s industrial market could boom after pandemic

A safe bet: South Florida’s industrial market could boom after pandemic
18770 Northeast Sixth Avenue

Miami warehouse leased to Southeast Frozen Foods sells for $31M

Miami warehouse leased to Southeast Frozen Foods sells for $31M
Armando Codina and his daughter, Ana-Marie Codina Barlick and Beacon Logistics Park

Biggest private corporation in US inks lease at Beacon Logistics Park

Biggest private corporation in US inks lease at Beacon Logistics Park
The property and Jonathan Salk (Credit: Google Maps)

Liberty Property Trust sells Fort Lauderdale industrial buildings

Liberty Property Trust sells Fort Lauderdale industrial buildings
Clockwise from top left: 3400 Northwest 74th Avenue, the Opa-locka industrial property and Centergate at Gratigny (Credit: Google Maps)

Here are South Florida’s largest industrial sales of 2019

Here are South Florida’s largest industrial sales of 2019
5601 Northwest 72nd Avenue (Credit: Google Maps)

These were South Florida’s biggest industrial leases of 2019

These were South Florida’s biggest industrial leases of 2019
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...