Avison Young Completes Sale-Leaseback Of Single Tenant Industrial Building

Avison Young brokered the sale of a 186,731-square-foot industrial building located at 11102 NW S River Drive in Medley to Sagard Real Estate.

The property is fully occupied by the seller, SeaVee Boats, an iconic South Florida brand celebrated globally for its word-class custom sportfishing vessels. SeaVee executed a sale-leaseback agreement at closing, allowing the company to continue occupying the property for 30 years.

Avison Young Principals Michael T. Fay, who is also the Chairman of Avison Young’s U.S. Capital Markets Group Executive Committee; John K. Crotty; David Duckworth; Brian C. de la Fé; Vice President David F. Spillers; and Associate Philip Shapiro represented the seller, SeaVee Boats. Joel Kattan of SVN Commercial Realty represented the buyer, Sagard Real Estate.

Constructed in 2019 on a ±9.14-acre site, the property was purpose-built to serve as SeaVee’s central hub for both its corporate headquarters and manufacturing operations. The facility supports every phase of the company’s vertically integrated production model, encompassing design, engineering, fabrication, assembly, finishing, maintenance and administrative functions under one roof. The site’s scale, functionality, and central positioning make it extremely difficult to replicate in Miami-Dade’s dense and highly competitive industrial landscape.

“This was a rare chance to acquire a large, high-quality facility in the heart of Medley with tenancy by one of South Florida’s most celebrated brands,” said Fay. “Large, single-tenant owner-user buildings don’t come up often in this submarket, especially at this scale, which made this a standout industrial sale-leaseback opportunity.”

Founded in 1973, Sea Vee’s high-quality boats quickly developed a devoted customer base, making it one of the world’s most respected offshore sportfishing boat manufacturers known for its craftsmanship, innovation and global clientele. Sea Vee oversees every aspect of its operations starting from the sales process through to the custom boat design with their architect, in-house financing, advanced lean manufacturing and pre-delivery performance testing.