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 192,000-square-foot facility is located at 5770 Miami Lakes Drive and was purchased from Sagard Real Estate, a Denver-based firm formerly known as EverWest.
According to property records and real estate database Vizzda, the one-story building was completed in 1977 on an 8.7-acre site. Sagard had previously bought the property in 2018 for $16 million.
The current tenant of the warehouse is Mr. Glass Doors and Windows, which manufactures windows and doors for both residential and commercial clients.
Dalfen Industrial is led by Sean Dalfen and manages a portfolio exceeding 55 million square feet nationwide. In March, 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, Dalfen has been active in acquiring and selling industrial properties over recent years. Last year, the company sold a 236,600-square-foot warehouse at Interstate Park Logistics Center in Riviera Beach for $55 million. It also acquired three Broward County industrial facilities totaling 102,000 square feet for $26.4 million during the same period. In 2021, Dalfen purchased two newly built warehouses at 1501 Meathe Drive in West Palm Beach from developer Jeff Greene for $60.6 million.
The South Florida industrial market saw strong growth during the pandemic as more residents and businesses moved into the region; however, there has been some softening this year with declining demand in the first quarter while landlords have not yet reduced rents.
Other recent transactions in the area include Longpoint’s purchase of America’s Gateway Park—a six-building complex—for $82 million in July. Shortly after that deal, Longpoint also acquired Tree Garden Business Park with three warehouses for $31.5 million. Also in July, Hersh Equity Group bought a six-warehouse complex in West Park for $47.2 million combined. Foundry Commercial and Crow Holdings Capital acquired a Pompano Beach development site for $23.1 million with plans to build two warehouses totaling 182,000 square feet.
