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 ZYX Capital, LLC.
Jonathan Salk of ZYX Capital represented the buyer and seller. 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.
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