Dalfen Industrial, a Dallas-based company specializing in last-mile industrial properties, 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 the one-story building was completed in 1977.
The seller, Sagard Real Estate of Denver—formerly known as EverWest—purchased the property for $16 million in 2018. The current tenant is Mr. Glass Doors and Windows, which manufactures residential and commercial windows and doors.
Dalfen Industrial is led by Sean Dalfen and manages a portfolio exceeding 55 million square feet nationwide, according to its website and statements from the company.
Earlier this year, Dalfen partnered with Goldman Sachs Group to sell a portfolio of 38 warehouses across several cities—including Atlanta, Austin, Dallas, and Nashville—to Starwood Capital Group for $685 million. In South Florida specifically, Dalfen has been active in both acquisitions and sales over recent years. Last year it sold a Riviera Beach warehouse measuring 236,600 square feet for $55 million and purchased three Broward County industrial facilities totaling 102,000 square feet for $26.4 million. In 2021, Dalfen bought two newly built warehouses in West Palm Beach from developer Jeff Greene for $60.6 million.
South Florida’s industrial real estate market saw significant growth during the pandemic due to migration from other states but began to soften this year as demand decreased during the first quarter; however, landlords have not yet reduced rents according to CBRE reports.
Other notable recent transactions include Longpoint’s purchase of America’s Gateway Park—a six-building complex in Doral—for $82 million in July. Shortly thereafter Longpoint also acquired Tree Garden Business Park with three warehouses in Doral for $31.5 million. Hersh Equity Group bought a six-warehouse complex in West Park for $47.2 million around the same time period. Additionally, Foundry Commercial together with Crow Holdings Capital paid $23.1 million for a development site in Pompano Beach where they plan to build two warehouses totaling 182,000 square feet.
