The seller was locally based National Constructors, which developed the property over the past six years. The seller was represented by Fort Lauderdale-based Berger Commercial Realty Corp. president Lloyd Berger. Berger, which handled the leasing and property management of the park for National, was retained by Seagis.
The Flamingo Park of Commerce is located on a 10.01-acre site located south of Miramar Parkway, west of Red Road, north of the Florida Turnpike Extension and east of Flamingo Road. It has access to Interstate 75 and 95 and is close to the Miami International and Fort Lauderdale International Airports. It is also a 20-minute drive away from the Port of Miami and Port Everglades seaports.
The acquisition is part of Seagis Property Group's recent campaign to increase its industrial holdings in South Florida. With the buy, the company increases its Dade and Broward County holdings to 37 buildings with more than 2.4 million sf. Other recent deals include the $8-million acquisition of a 123,500-sf distribution/warehouse facility in Medley and the $8-million buy of a 76,000-sf office/warehouse property in Fort Lauderdale.
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