A countrywide fuel station operator and petroleum distributor built a large-octane actual estate purchase in Dania Beach.
An affiliate of Waltham, Massachusetts-based World Associates paid $27.9 million for Motiva Enterprises South Terminal at 1200 Southeast 28th Road, documents and Vizzda clearly show. Around Port Everglades, the 51.5-acre residence includes five industrial structures and 12 gasoline containers accomplished between 1955 and 1961.
The seller, Motiva Enterprises, obtained the gas website for $6.9 million in 1998, information demonstrate. In November, Motiva entered into an settlement to promote 25 fuel terminals on the Atlantic Coast, the Southeast U.S. and in Texas to World-wide Companions, a press launch states. World-wide Associates paid a blended $305.8 million for the petroleum properties, which have capability to produce 8.4 million barrels of gas yearly.
Motiva also agreed to continue being as the anchor tenant at the 25 facilities for 25 yrs, the release states.
Led by CEO Eric Slifka, International Partners is a petroleum storage, distribution and retail corporation established in 1933, the launch states. The company also owns and operates 1,700 gasoline station ease outlets, primarily in the Northeast.
South Florida’s industrial marketplace ended on a superior be aware very last calendar year, with a handful of nine-determine specials that finished up getting the greatest transactions for 2023.
The industrial real estate division of The Church of Jesus Christ of Latter-working day Saints shut out the yr with the second most important industrial offer. The LDS church paid $174.3 million for the Beacon Logistics Park in Hialeah. Coral Gables-dependent Codina Companions offered the 1.3 million-sq.-foot industrial elaborate.
Also last month, Boston-centered Longpoint Partners paid $262 million for a 25-developing industrial portfolio in Miami-Dade and Broward counties. Longpoint’s obtain was the greatest deal in South Florida’s industrial market place very last yr.
And Spanish billionaire Amancio Ortega’s Pontegadea bought a Hialeah freezer facility for $113 million, symbolizing the fourth major transaction of 2023.
Last year’s third greatest industrial offer was New York-primarily based Link Logistics’ $162 million obtain of a Deerfield Seashore industrial campus in July.
