Seagis Pays $30M For Rental Car Center Near FTL Airport, Plans Warehouse

Seagis Property Group bought a warehouse development site near Fort Lauderdale-Hollywood International Airport for $29.5 million, marking its ongoing bet on the booming South Florida industrial market.

The Conshohocken, Pennsylvania-based company bought the Alamo Rent A Car-leased property at 1700 Eller Drive from Eller Drive Properties, according to a spokesperson for Vanguard Realty Advisors.

Jonathan Salk of Vanguard Realty Advisors represented the buyer and seller.

The selling entity is led by Diego and Helena Ribadeneira, Daniela Balarezo and Georgina Menendez, according to state corporate records.

Seagis wants to redevelop the property into a 199,615-square-foot warehouse, according to media reports.

The existing 48,411-square-foot building was constructed in 1974 on 4.3 acres, property records show. It is east of the airport.

 

Source:  The Real Deal