12/19/2007

Seagis acquires Miami business center for $12.9M

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7801-7821 NW 67th St.

West Conshohocken, Pa.-based Seagis Property Group has acquired the Palmetto Business Center in Miami, Fla., for $12.9 million from Benjamin Management Co.

Seagis was self-represented in the deal while Paul Cohen and Cary Cohen of CB Richard Ellis represented Benjamin Management.

Ron Berger, also of CB Richard Ellis, has been retained as the property's leasing agent.

The 222,700 square foot industrial complex consists of two buildings located at 6700 NW 77th Court and 7801-7821 NW 67th St. Situated on 7.93 acres, the property was 92 percent occupied at the time of sale. The acquisition brings Seagis' holdings on the Eastern Seaboard to eight million square feet.

Paul Cohen is the senior director for CBRE's Private Client Group in Miami. He specializes in office and industrial properties and is a former employee of Lennar Florida Partners and Easton-Babcock Associates. He joined CBRE in 2000 and was the Commercial Realtor Associate of the Year in 1995.

Cary Cohen is also a director with CBRE's Private Client Group. He specializes in assessing market conditions and advising owners regarding acquisition and disposition of investment properties. He was South Florida's Rookie of the Year in 2004.

Address: 6700 NW 77th Court and 7801-7821 NW 67th St., Miami, Fla.

Size: 222,700 square feet

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Filed Under: Industrial

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