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Florida & Gulf Coast  + South Florida  + Industrial  |  June 14, 2021
David Cohen
By: David Cohen

JV Snags Florida Industrial Portfolio for $20M

A joint venture between Angelo, Gordon & Co. and Delray Beach-based Redfearn Capital has acquired a value-add industrial portfolio in Florida with a concentration in South Florida. The sales price was $20 million.

The JV acquired 217,590 square feet of 3 industrial facilities. The properties include 400 Enterprise Drive, an 84,400-square-foot facility in Port St. Lucie; 8620 LTC Parkway, a 67,590-square-foot facility in Port St Lucie and 7555 Garden Road, a 65,600-square-foot facility in Riviera Beach. Tenants at the facilities include Trane Inc., ABC Supply Co. and Suncoast Roofers Supply.

Robert Smith and Kirk Nelson of CBRE represented the JV in the acquisition. The seller was not disclosed.

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CBRE’s Smith

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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