Sagard Real Estate Acquires Industrial Property From SeaVee Boats In Medley For $51M

An industrial building located at 11102 Northwest South River Drive in Medley, Florida, has been sold for $51,000,000. This property spans 186,731 square feet, with a price per square foot of $273. The asset is fully occupied by the seller, SeaVee Boats, which is renowned for its custom sportfishing vessels. The facility, built in 2019, serves as SeaVee's corporate headquarters and manufacturing hub. At closing, SeaVee executed a sale-leaseback agreement allowing them to occupy the property for thirty years.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $51,000,000
• Address: 11102 Northwest South River Drive
• Market: Medley
• Square Footage: 186,731
• Price Per Square Foot: $273
• Buyer: Sagard Real Estate
• Seller: SeaVee Boats
• Buyer's Representative: Joel A. Kattan & Anthony Peragine - SVN
• Seller's Representatives: Brian de la Fé, Michael Fay, John Crotty, David Duckworth, Philip Shapiro & David Spillers - Avison Young

This transaction involved multiple representatives from Avison Young who facilitated the sale on behalf of the seller, ensuring a smooth transition and future occupancy arrangement enabling SeaVee Boats to maintain operations in the newly sold facility. SVN Commercial Realty represented the buyer in this significant industrial real estate transaction.