Dalfen Industrial, based in Dallas, has acquired a fully leased warehouse in Miami Lakes for $30.1 million. The property, located at 5770 Miami Lakes Drive, spans 192,000 square feet and sits on an 8.7-acre site. Records indicate that the building was completed in 1977.
The seller, Sagard Real Estate of Denver—previously known as EverWest—had purchased the warehouse for $16 million in 2018. Mr. Glass Doors and Windows, a manufacturer serving both residential and commercial clients, currently occupies the building.
According to Dalfen’s news release about the transaction: “Led by Sean Dalfen, Dalfen is a last-mile industrial space buyer, manager and developer with a portfolio of over 55 million square feet.”
Earlier this year, Dalfen and Goldman Sachs Group sold a portfolio of 38 warehouses across cities including Atlanta, Austin, Dallas and Nashville to Starwood Capital Group for $685 million.
Dalfen has maintained an active presence in South Florida’s industrial real estate market. Last year it sold a 236,600-square-foot warehouse at Interstate Park Logistics Center in Riviera Beach for $55 million. The company also bought three Broward County industrial facilities totaling 102,000 square feet for $26.4 million last year. In 2021 it acquired two newly built warehouses at Meathe Drive in West Palm Beach from Jeff Greene for $60.6 million.
South Florida’s industrial sector saw significant growth during the pandemic as more people and businesses moved into the area; however, demand declined during the first quarter of this year while rents remained unchanged according to CBRE.
Other notable recent transactions include Longpoint’s purchase of America’s Gateway Park—a six-building complex—for $82 million in July in Doral and its subsequent acquisition of Tree Garden Business Park with three warehouses for $31.5 million nearby. Also in July, Hersh Equity Group bought a six-warehouse complex in West Park for $47.2 million combined while Foundry Commercial together with Crow Holdings Capital paid $23.1 million for an industrial development site in Pompano Beach where they plan to build two new warehouses totaling 182,000 square feet.
