{"id":1004191601,"date":"2017-09-26T05:09:57","date_gmt":"2017-09-26T13:09:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004191601"},"modified":"2022-12-08T16:55:44","modified_gmt":"2022-12-09T00:55:44","slug":"seagis-buys-warehouse-complex-in-miami","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/seagis-buys-warehouse-complex-in-miami\/","title":{"rendered":"Seagis Buys Warehouse Complex in Miami"},"content":{"rendered":"

By Scott Baltic <\/em><\/p>\n

\"Airport<\/a>

Airport International Center<\/p><\/div>\n

Seagis Property Group, of Conshohocken, Pa., has acquired Airport International Center, a two-building, 207,000-square-foot warehouse complex in Miami\u2019s Airport West submarket.<\/p>\n

The multi-tenant buildings, at 5501-5505 NW 72nd Ave., feature 4,500-square-foot tenant bays, with both dock-high and street-level loading in each tenant space. The property is about 2 miles from Miami International Airport and 13 miles from the Port of Miami.<\/p>\n

The seller of the 1994-vintage property was Lincoln Property Co.<\/p>\n

\u201cWe continue to see strong demand for these highly functional small-bay infill warehouse units,\u201d Ronald Marrero, Seagis\u2019 Director of Leasing and Investments, said in a prepared statement. \u201cAirport International Center is a natural complement to our South Florida portfolio, which now includes 92 buildings and 5 million square feet in the Dade and Broward County marketplace.\u201d<\/p>\n

Seagis owns and operates more than 10 million square feet of industrial buildings<\/a> in South Florida, New Jersey and New York City.<\/p>\n

As of press time, Seagis had not responded to Commercial Property Executive<\/em>\u2019s request for additional information.<\/p>\n

Metro Miami-Dade enjoys strong industrial market<\/h2>\n

Continued economic and employment expansion in Miami-Dade and rising land and construction costs have made for a tight industrial market, according to a second-quarter report from Cushman & Wakefield.\u00a0<\/p>\n

In the Airport West submarket, the overall vacancy was 3.9 percent on an inventory of 45.6 million square feet, and warehouse\/distribution space there rents for about $9.01 per square foot on average, again per Cushman & Wakefield. Space under construction or delivered this year totals about 1.6 million square feet in the submarket.<\/p>\n

Image courtesy of Seagis Property Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

With its latest acquisition, the company\u2019s holdings include 10 million square feet of industrial buildings in South Florida, New Jersey and New York City.<\/p>\n","protected":false},"author":882,"featured_media":1004191612,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21748,21783,1492,21742],"tags":[32799,32838,33402],"class_list":["post-1004191601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-industrial","category-investment","category-miami","category-latest","tag-cushman-wakefield","tag-lincoln-property-company","tag-seagis-property-group"],"acf":[],"yoast_head":"\nSeagis Buys Warehouse Complex in Miami - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/seagis-buys-warehouse-complex-in-miami\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seagis Buys Warehouse Complex in Miami\" \/>\n<meta property=\"og:description\" content=\"With its latest acquisition, the company\u2019s holdings include 10 million square feet of industrial buildings in South Florida, New Jersey and New York City.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/seagis-buys-warehouse-complex-in-miami\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-09-26T13:09:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:55:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Miami-50552_1920.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seagis-buys-warehouse-complex-in-miami\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/seagis-buys-warehouse-complex-in-miami\/\",\"name\":\"Seagis Buys Warehouse Complex in Miami - 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