Dalfen Industrial bought a fully leased warehouse in Miami Lakes for $30.1 million.
Dallas-based Dalfen purchased the 192,000-square-foot building at 5770 Miami Lakes Drive from Denver-based Sagard Real Estate, according to records and real estate database Vizzda.
The one-story building was completed in 1977 on a 8.7-acre site, records and LoopNet show.
Sagard, formerly called EverWest, had paid $16 million for the property in 2018.
Mr. Glass Doors and Windows, a residential and commercial windows and doors manufacturer, occupies the building, according to a Dalfen news release about the purchase.
Led by Sean Dalfen, Dalfen is a last-mile industrial space buyer, manager and developer with a portfolio of over 55 million square feet, according to its website and the release.
In March, Dalfen and Goldman Sachs Group sold a portfolio of 38 warehouses nationwide, including in Atlanta, Austin, Dallas and Nashville to Starwood Capital Group for $685 million.
In South Florida, Dalfen has been investing in industrial properties for years. Last year, it offloaded a 236,600-square-foot Interstate Park Logistics Center warehouse at 3774 Interstate Park Road North in Riviera Beach for $55 million. Also last year, Dalfen paid $26.4 million for three industrial facilities in Broward County spanning a combined 102,000 square feet.
In 2021, Dalfen bought two newly completed warehouses at 1501 Meathe Drive in West Palm Beach from developer Jeff Greene for $60.6 million.
South Florida’s industrial market, which prospered during the pandemic due to an influx of out-of-state residents and businesses, experienced a softening this year. In the first quarter, demand declined, but landlords still hadn’t lowered rents, according to a CBRE report.
In other recent deals, Longpoint paid $82 million in July for the six-building America’s Gateway Park at 8901 Northwest 20th Street, 2011 Northwest 89th Place, 8940 Northwest 24th Terrace, 8933 Northwest 23rd Street, 1400 Northwest 89th Avenue and 1401 Northwest 89th Court in Doral. Shortly after that, Longpoint bought the fully leased Tree Garden Business Park with three warehouses at 4005 and 4055 Northwest 79th Avenue in Doral for $31.5 million.
Also in July, Hersh Equity Group bought a six-warehouse complex at 5801-5897 Southwest 21st Street, 5901-5981 Southwest 21st Street and 2100 Southwest 59th Avenue in West Park for a combined $47.2 million.
Foundry Commercial and a fund advised by Crow Holdings Capital paid $23.1 million in July for a 10.2-acre industrial development site on the northwest corner of Northwest 33rd Street and Northwest 27th Avenue in Pompano Beach. The pair plan a 182,000-square-foot project consisting of two warehouses on the site.
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