Delray Beach-based Redfearn Capital, a private equity commercial real estate company that targets value add, distressed and opportunistic investment opportunities, acquired 153,950 square feet of industrial facilities for a total purchase price of $23,075,000.
The deals closed Tuesday, September 27.
The assets include:
- 450 E Copans Road, located in Pompano Beach – The 50,200-square-foot property is strategically positioned within Pompano Beach, one of South Florida’s strongest industrial submarkets. The facility was fully leased by a single tenant at the time of the sale and features 20-foot clear heights, grade-level and recessed dock loading, 81 parking spaces, 5,800 square feet of office space, and exceptional connectivity and visibility to the area through its location on the corner of North Dixie Highway and East Copans Road. The warehouse was purchased for $10,250,000.
- 3939 Airway Circle and 13200 40th St N, located in Clearwater – The industrial buildings, which total 103,750 square feet, are centrally located in the South Pinellas County submarket. . The buildings were purchased for $12,825,000. Both buildings are occupied by SupplyOne, a leader in packaging solutions, offering custom packaging strategies and products to several industries including automotive, healthcare, electronics, food and beverage, consumer products and pharmaceuticals to name a few. Founded in 1998, Supply One currently operates out of 48 locations in 22 states throughout the United States.
“These two industrial assets offer an exceptional value-add opportunity in both of these booming industrial markets,” commented Alex Redfearn, Principal and Founder of Redfearn Capital. “Our team was able to secure both properties off market and execute in a challenging economic environment.”
“Our team was able to secure both properties off market and add to our existing industrial portfolio throughout Florida. Redfearn Capital has closed eleven properties in 2022 totaling over 750,000 square feet,” commented Joe Pasquale, Chief Investment Officer of Redfearn Capital.
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