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Industrial Property In Miami Gardens Trades For $14M Amid Sale-Leaseback


Exeter Property Group bought a Miami Gardens industrial building occupied by RC Home Showcase for $13.5 million. The Conshohocken, Pennsylvania-based commercial real estate investor, developer and manager purchased the property at 16115 Northwest 52nd Avenue from K2 Aluminum in an off-market deal, according to broker Jonathan Salk of ZYX Capital, LLC.


The seller, RC Home Showcase, is a distributor of aluminum windows and doors for residential and commercial real estate and will continue to lease the building. Salk declined to disclose the lease terms. K2 Aluminum bought the 103,397-square-foot building in 2014 for $5.2 million, records show.


Exeter Property Group, led by Edward “Ward” Fitzgerald, is an investment manager, focusing on office, life science, multifamily, and logistics and industrial real estate, according to its website. Since its inception in 2006, it has managed more than $10 billion in equity on behalf of global institutions, including pension funds, foundations, university endowments and sovereign wealth funds.


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