Seagis Pays M for Miramar Warehouse-Distribution Facility

Seagis Pays $13M for Miramar Warehouse-Distribution Facility

481 Riviera Boulevard in Miramar, Fla and Seagis Property Group’s Vice President Bradlee Lord (Google Maps)

Seagis Property Group bought a newly built Miramar warehouse and distribution facility for $13.3 million, marking its ongoing shopping spree for South Florida industrial real estate.

The Conshohocken, Pennsylvania-based company bought the 60,831-square-foot building at 7481 Riviera Boulevard, with plans to lease out the vacant facility that was completed last year, according to a Seagis news release.

The selling entity ties to Patricio Ureta’s Megacenter, which bought the 3.5-acre site, as well as an adjacent property in 2016 for $10 million, state corporate and property records show. Megacenter, a subsidiary of Chile-based Red Megacentro, leases properties and develops self-storage, retail, office, co-working, showroom and industrial real estate, according to its website.

Tommy Gil of Vivo Real Estate Group represented Seagis in the deal. Bryan Demello, a Megacenter US asset manager, represented the seller.

The building, which was rebranded Seagis @ Riviera Boulevard, has 32-foot clear ceiling heights, six dock-high doors and five drive-in doors, according to the release. Once the interior buildout is completed, the building can accommodate tenants requiring from 25,000 square feet to 60,831 square feet of space. The property fronts the Florida Turnpike.

Seagis has a South Florida portfolio consisting of 112 properties spanning more than 6 million square feet, according to the release. The company’s vice president is Bradlee Lord.

In December, Seagis paid $28.6 million for two Doral industrial properties, and also paid $29.5 million for a warehouse development site near Fort Lauderdale-Hollywood International Airport.

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