Seagis Property Group on Tuesday announced it has acquired the 201,000-square-foot Kendall Park of Commerce industrial complex in Miami, Fla.
The value of the transaction was approximately $18.7 million.
The three-building complex is adjacent the Tamiami Airport, and was fully leased on a multitenant basis at the time of sale. The properties consist of warehouse/distribution buildings built between 1994 and 1998.
“This acquisition was an opportunity to acquire a high quality industrial portfolio in Dade County that complements our neighboring six building Deerwood portfolio acquired in October 2005,” said John Begier, Seagis principal and co-founder. “This latest acquisition increases our Miami holdings to 15 buildings totaling approximately 1.3 million square feet.”
West Conshohocken, Pa.-based Seagis Property Group LP owns and operates industrial buildings in logistically driven locations along the Eastern Seaboard.
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