Dalfen Industrial, a Dallas-based real estate firm, has acquired a fully leased warehouse in Miami Lakes for $30.1 million. The property is located at 5770 Miami Lakes Drive and spans 192,000 square feet. Records and the real estate database Vizzda confirm the transaction with Denver-based Sagard Real Estate as the seller.
The one-story warehouse was constructed in 1977 on an 8.7-acre site, according to public records and LoopNet listings. Sagard, previously known as EverWest, purchased the building in 2018 for $16 million.
The facility is occupied by Mr. Glass Doors and Windows, a manufacturer of residential and commercial windows and doors, as noted in Dalfen’s news release about the purchase.
Dalfen Industrial specializes in last-mile industrial properties. Led by Sean Dalfen, the company manages a portfolio exceeding 55 million square feet nationwide.
Earlier this year, Dalfen partnered with Goldman Sachs Group to sell a portfolio of 38 warehouses across cities such as Atlanta, Austin, Dallas, and Nashville to Starwood Capital Group for $685 million.
In South Florida, Dalfen has been active in industrial real estate investments over recent years. Last year it sold a Riviera Beach warehouse measuring 236,600 square feet for $55 million and acquired three Broward County facilities totaling 102,000 square feet for $26.4 million. In 2021, Dalfen bought two newly built warehouses from developer Jeff Greene in West Palm Beach for $60.6 million.
The South Florida industrial market saw strong growth during the pandemic but experienced slower demand earlier this year while rents remained steady according to CBRE reports.
Other recent deals in the region include Longpoint’s $82 million purchase of America’s Gateway Park in Doral and its acquisition of Tree Garden Business Park for $31.5 million. Hersh Equity Group bought a six-warehouse complex in West Park for $47.2 million, while Foundry Commercial along with Crow Holdings Capital secured a Pompano Beach development site for $23.1 million with plans to build two warehouses totaling 182,000 square feet.
