Sagard Real Estate has finalized the acquisition of a significant warehouse property in Medley, South Florida, for $51 million. The deal, which closed on Friday, February 27, 2026, involves a nearly 187,000-square-foot industrial facility located at 11102 Northwest South River Drive. The property, built in 2019, sits on over nine acres and was previously fully occupied by the seller, SeaVee Boats.
Key Takeaways
- Sagard Real Estate purchased a 187,000-square-foot warehouse in Medley for $51 million.
- The seller, SeaVee Boats, will lease back the property for 30 years.
- The warehouse was constructed in 2019 and is situated on a 9-acre site.
Transaction Details
The expansive warehouse, a key asset in South Florida’s commercial real estate market, was sold by SeaVee Boats, a manufacturer of custom sportfishing vessels. Following the sale, SeaVee Boats has entered into a long-term leaseback agreement with the new owner, Sagard Real Estate, securing occupancy for the next 30 years. This arrangement ensures operational continuity for SeaVee Boats while providing Sagard Real Estate with a stable, income-generating asset.
Property and Market Context
Located at 11102 Northwest South River Drive in Medley, the warehouse represents a substantial investment in the region’s logistics and industrial sector. The property’s modern construction, dating back to 2019, and its considerable land footprint of over nine acres make it a valuable piece of real estate. The transaction was facilitated by Avison Young, representing the seller, and SVN Commercial Realty, representing the buyer.
Other Notable South Florida Deals
This significant warehouse acquisition was part of a larger set of notable real estate transactions in South Florida on February 27, 2026. In the residential sector, a penthouse at Terra and GFO Investments’ Five Park in Miami Beach sold for $18.5 million. Additionally, an industrial property in Hialeah traded for $9 million.
Sources
- South Florida Top Real Estate Deals: Friday, Feb. 27, 2026, The Real Deal.