Dalfen Industrial Acquires Nine-Building Industrial Portfolio In Fort Lauderdale For $99.6M

The transaction involved the sale of a nine-building industrial portfolio located at 3585, 3600 Northwest 54th Street, 5320, 5400, 5535-5545 Northwest 35th Avenue, 3260 Meridian Parkway, 6277 Northwest 28th Way, 6250 Northwest 27th Way, and 10501 Commerce Parkway in the Fort Lauderdale, Weston, and Miramar market. The sale price was $99,600,000, encompassing 419,300 square feet of industrial space, with a price per square foot of $238.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $99,600,000
• Buyer: Sean Dalfen - Dalfen Industrial
• Seller: Luke J. Petherbridge - Link Logistics
• Seller: Stephen A. Schwarzman - Blackstone
• Lender: TIAA
• Leased Percentage: 83%
• Major Tenants: FedEx, Chromalloy

Sean Dalfen represented Dalfen Industrial in the acquisition, while Luke J. Petherbridge and Stephen A. Schwarzman acted on behalf of Link Logistics and Blackstone, respectively. This sale reflects a prevailing trend of industrial dispositions in South Florida, indicating continued investor interest despite market normalization resulting in rising vacancy and slower absorption rates.