The Real Deal Miami

TA Realty pays $36M for industrial portfolio in Hollywood

Seminole Tribe of Florida is the largest tenant within the 218k sf portfolio
By Amanda Rabines | October 31, 2018 01:30PM

Building within the Port 95 Commerce Park, Chris Riley, José Lobón and Christian Lee

TA Realty just bought two industrial buildings in Hollywood from Guardian Life Insurance Co. of America for $36.1 million.

Property records show the insurer sold an 83,880-square-foot warehouse at 2551 Southwest 39th Street and a 134,320-square-foot warehouse at 4140 Southwest 30th Avenue. In total, the portfolio spans 218,200 square feet, meaning the deal breaks down to about $265 per square foot.

The warehouses sit within the Port 95 Commerce Park, just west of Fort Lauderdale-Hollywood International Airport. Records show the Guardian bought the properties in 2007 for nearly $28 million. They were built in 2010.

CBRE’s Christian Lee, Chris Riley and José Lobón represented the seller. The properties are 100 percent leased to tenants including the Seminole Tribe of Florida which is its largest tenant, as well as Gate Gourmet and BTI Sports, Riley said.

TA Realty has been actively buying industrial properties in South Florida. Last month, it paid $92.25 million for a 10-parcel industrial portfolio in Medley and Hialeah Gardens.