Seagis Property Group buys warehouse near Miami Gardens for $8M

61K sf building previously used by bedding manufacturer

Miami /
Oct.October 26, 2021 03:30 PM
Seagis VP Bradlee Lord with the facility (Google Maps, Cornell)

Seagis VP Bradlee Lord with the facility (Google Maps, Cornell)

In a continuation of its South Florida industrial real estate shopping spree, Seagis Property Group scooped up a former manufacturing facility near Miami Gardens for $8 million.

Seagis bought the 60,577-square-foot warehouse at 255 Northeast 181st Street from an affiliate of Intima, a wholesaler of bedding, according to broker Jonathan Salk of Vanguard Realty Advisors, who represented the buyer and seller.

The building was constructed in 1971 across 2.6 acres, property records show.

Intima, led by Marcelo Herskovitz and with a corporate name of American Sunshine, previously ran its manufacturing in the building but has vacated, Salk said.

Seagis, which has been pursuing the property for more than two years, leased the space prior to closing, Bradlee Lord, vice president, said in a news release.

With this purchase, Conshohocken, Pennsylvania-based Seagis now has a South Florida industrial portfolio of 109 buildings and more than 5.6 million square feet, according to the release. The company’s total portfolio spans more than 12 million square feet with buildings in New York and New Jersey, according to its website.

This deal came on the heels of Seagis buying logistic company AmCar Lamprecht’s Doral facility for $19.4 million in September. It also owns the adjacent industrial building.

In June, Seagis bought a Port 95 industrial park in Dania Beach for $24.6 million, the biggest deal in this asset class in the southeast Broward County submarket in this year’s second quarter, according to Avison Young.

Seagis also bought a Medley warehouse with cold storage for $7.9 million in May.

Its hefty spending on South Florida is no surprise as the industrial market here remains healthy and was the only property type to prosper in 2020 during the pandemic.





    Related Articles

    arrow_forward_ios
    John Ruiz with 530 Arvida Parkway
    John Ruiz sells waterfront Gables Estates home for discounted $30M
    John Ruiz sells waterfront Gables Estates home for discounted $30M
    1800 West Indiantown Road in Jupiter, PGIM's Eric Adler with 12503-12681 Miramar Parkway in Miramar and Orion Real Estate Group's  Kevin Sanz with 13605-13619 South Dixie Highway in Pinecrest
    South Florida retail vacancies drop, rents rise in the fourth quarter
    South Florida retail vacancies drop, rents rise in the fourth quarter
    The Development site at 9163-9165 Collins Avenue in Surfside with Fort Partners' Nadim Ashi
    Fort Partners pays $42M for Surfside condo development site
    Fort Partners pays $42M for Surfside condo development site
    From left: Prologis' Hamid Moghadam, MG3 Group’s Marcelo Saiegh, and TA Realty's James Buckingham (Getty, Prologis, MG3 Group, TA Realty)
    South Florida industrial market softens, rents rise again in fourth quarter
    South Florida industrial market softens, rents rise again in fourth quarter
    Palazzo Della Luna at 6800 Fisher Island Drive in Miami Beach
    Palazzo Della Luna closing tops Miami-Dade weekly condo sales
    Palazzo Della Luna closing tops Miami-Dade weekly condo sales
    (Illustration by The Real Deal with Getty)
    South Florida residential dollar volume falls 50% in December
    South Florida residential dollar volume falls 50% in December
    Renderings of The Wynwood Plaza with L&L’s David Levinson and Robert Lapidus, Oak Row’s Erik Rutter and David Weitz, Marcelo Claure and Shorenstein’s Matt Knisely
    Wynwood Plaza project scores $215M construction loan
    Wynwood Plaza project scores $215M construction loan
    Renderings of Oko Group’s 830 Brickell in Miami’s Brickell neighborhood and Stephen Ross’ One Flagler in downtown West Palm Beach
    South Florida office rents rise in the fourth quarter
    South Florida office rents rise in the fourth quarter
    arrow_forward_ios

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

    Loading...