In a pair of off-market deals totaling $12 million, IG Logistics acquired two outdoor storage facilities, beefing up its Pompano Beach industrial portfolio.
Affiliates of New York-based IG Logistics paid $5.5 million for a 3.2-acre industrial site at 1377 Hammondville Road, and $6.5 million for a 4.7-acre property at 1750 Powerline Road, according to records.
Ted Konigsberg with Infinity Commercial brokered the Hammondville Road property deal.
The seller of that property is Stephen Miron of Fairfield, Connecticut, whose family acquired it for $148,200 in 1996, records show. The site, which has a 2,500-square-foot building, is leased to Sunbelt Rentals.
Annalou, an entity managed by Blake and Louise Lewend of Deerfield Beach, is the seller of the Powerline Road property, records show. Annalou bought the site for $1.2 million in 1996. The current tenant is Florida’s Ultimate Heavy Hauling & Rigging.
In November, IG Logistics also picked up a 6.5-acre industrial property in Pompano Beach for $8.5 million.
The company is the industrial arm of Imperium Capital, a real estate investment firm founded by Daniel Glaser and Sam Schneider. IG Logistics has invested $50 million in South Florida industrial properties over the last decade, according to a press release.
Established in 2010, Imperium Capital’s commercial real estate portfolio spans more than 1.2 million square feet with a total market value of more than $2 billion, the release states.
Pompano Beach is one of the most active industrial markets in South Florida. This month, Equus Capital Partners paid a record $239.2 million for Pompano Business Park in a deal that surpassed the biggest industrial sale of 2021. Prologis sold the 1 million square feet of warehouses.
Last month, Bridge Industrial paid $46.3 million for the Pompano Beach Commerce Park industrial complex.
Industrial sales volume in the Broward industrial market surged to a record $1.3 billion in 2021, surpassing a previous high of $1.1 billion in 2019, according to a recent Avision Young report. Investors were particularly interested in industrial assets within the Southwest Broward and Pompano Beach submarkets, the report states.