The properties, located in the Miami Lakes Commerce Park at14240-14300 Palmetto Frontage Road, were constructed in 2002. Themulti-tenanted buildings are 100% leased. With the acquisition,Seagis increased its Miami portfolio to 18 buildings totalingapproximately 1.4 million sf. "This acquisition was an opportunityto acquire modern dock-high product with 24-ft clear ceilingheights in one of the most desirable submarkets in Dade County,"says Seagis Property Group principal John Begier.

Begier tells GlobeSt.com that quality of the buildings andthey're location in the Miami Lakes submarket made them attractivefor acquisition. "We really liked the quality of the buildings,they're essentially brand new," Begier says. "Our plan is to be along-term owner of the buildings."

In June, the company acquired the 210,000-sf Kendall Park of Commercefor $18.65 million. The property, which consists of three dock highwarehouse/distribution buildings adjacent to the Tamiami Airport,were constructed between 1994 and 1998 and were fully leased at thetime of the acquisition.