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Industrial facility serving Fort Lauderdale International Boat Show, other events sells for $29M
Property last traded in 2015 for $17.8M
Realterm Logistics bought a Fort Lauderdale industrial facility used by major local events for $28.6 million.
The Annapolis, Maryland-based industrial and logistics real estate investor bought the property at 1900 Northwest 21st Avenue from an affiliate of Jonathan Cox, founder and chairman of commercial real estate firm The Federated Companies, according to records.
Cox, whose company is based in Miami and Boston, bought the 10.4-acre property in 2015 for $17.8 million, property records show. The site is mostly outdoor storage and has one 90,882-square-foot warehouse built in 2009.
The facility supports local events, including the Fort Lauderdale International Boat Show.
Realterm, led by Robert Fordi, manages more than $3 billion of commingled equity through three divisions, according to its website. Realterm owns properties in North America and Europe, Aeroterm owns airport logistics assets, and IndoSpace Logistics Parks develops industrial real estate in India.
Last year, Realterm bought industrial properties with cold storage at 12401, 12701 and 12725 Northwest 38th Avenue in Opa-locka for $26 million.
In another recent Fort Lauderdale industrial deal, an affiliate of Andrew Naumov, an executive of Richmond, California-based West Coast Shipping, bought the property at 6001 North Powerline Road from the Urso family for $11 million in April.
Also, Lauderdale Marine Center at 2029 Southwest 20th Street, the city’s largest marina storage and repair facility, traded for $340 million in May, in one of the biggest South Florida deals this year. Dallas-based Safe Harbor Marinas bought it from The Carlyle Group.