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

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.