Mandich family launches industrial brokerage in booming market

Mandich sons and ex-Cornerstone broker to focus on cold storage

Miami /
Jun.June 06, 2018 01:34 PM

George Smith and Michael Mandich

The sons of the late Miami Dolphins player and color commentator Jim “The Mad Dog” Mandich launched a brokerage focusing on South Florida’s booming industrial market.

Michael Mandich and his two brothers Nick and Mark have teamed up with a former broker at Cornerstone International Realty, George Smith, to start Mandich Real Estate Advisors in Miami. The new team will complement Mandich’s real estate investment group and will focus on a growing segment of the industrial market — cold storage.

“It’s hot, no pun intended,” said Michael Mandich, managing partner.

With its heavy presence in agricultural products and proximity to major ports and airports as well as Latin America, Florida has become a popular destination for cold storage. According to CBRE, Florida had the third most food-grade industrial cold storage space at 271 million cubic feet in 2017.

South Florida’s industrial space overall is also heating up with low vacancy rates and heavy demand.

Last year, almost 5.3 million square feet of industrial warehouse space changed hands in South Florida, totaling $418.7 million, according to the Commercial Industrial Association of South Florida. That was a 21 percent increase from 2016, even though fewer buildings sold.

Mandich decided to launch the firm after closing on a 133,000-square-foot cold storage facility in northern Miami-Dade County last year. Smith, then at Cornerstone, helped broker the deal.

The Mandich real estate investment group has focused on acquiring industrial cold storage assets and has picked up more than 160,000 square feet of space in the last year. It also served as equity partners in several multifamily, student housing and hard money lending opportunities, according to its website.


Related Articles

arrow_forward_ios
1600 Northeast 12th Terrace
Triangle Services pays $17.5M for Fort Lauderdale industrial building
Triangle Services pays $17.5M for Fort Lauderdale industrial building
Link Logistics' Luke Petherbridge with 115.7-acre site at 21001 Northwest 27th Avenue (LinkedIn, Google Maps)
Blackstone’s Link Logistics pays $291M for Calder’s horse racing track
Blackstone’s Link Logistics pays $291M for Calder’s horse racing track
EverWest Real Estate Investors' Rick Stone and Tyler Williams; rendering of the newly built industrial property at 10900 Northwest 146th Street in Hialeah Gardens (Commercial Property Group, EverWest Real Estate Investors, iStock)
EverWest buys Hialeah Gardens industrial building for $43M
EverWest buys Hialeah Gardens industrial building for $43M
First Industrial Realty's Peter E. Baccile with 1801 North Andrews Avenue (First Industrial Realty Trust, Colliers, iStock)
First Industrial picks up Pompano Beach manufacturing facility for $25M
First Industrial picks up Pompano Beach manufacturing facility for $25M
Hollywood Locations' Christopher Ursitti and 1400 Northwest 31st Avenue (Hollywood Locations, Google Maps)
Movie studio complex may rise on former incinerator site in Fort Lauderdale
Movie studio complex may rise on former incinerator site in Fort Lauderdale
RFR's Aby Rosen with 100 Biscayne, RFR, Lease Roundup
Lease roundup: Fintech firm moves HQ to Aby Rosen’s 100 Biscayne in Miami
Lease roundup: Fintech firm moves HQ to Aby Rosen’s 100 Biscayne in Miami
SROA Capital's Ben Macfarland III with 000 Pembroke Road (LinkedIn, Loopnet)
SROA Capital pays $20M for Hallandale Beach industrial-flex property
SROA Capital pays $20M for Hallandale Beach industrial-flex property
LBCW Investments' Clay Hamlin III with 1100 25th Street and 1426 Skees Road (Loopnet, LBCW)
Industrial play: Alliance HP trades one West Palm complex for another
Industrial play: Alliance HP trades one West Palm complex for another
arrow_forward_ios

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

Loading...