Seagis expands South Florida portfolio

Seagis Property Group this week announced it acquired a 278,000-square-foot office/warehouse park in Miramar, Fla., for $36.1 million.

The complex, which is known as the Flamingo Park of Commerce, includes seven buildings and was 95 percent leased on a multitenant basis at the time of purchase.

The acquisition increases the Pennsylvania-based company's Dade and Broward County holdings to 37 buildings, totaling more than 2.4 million square feet.

The identity of the seller was not disclosed.

Pharma consulting firm relocates in New Jersey

IMS Health Inc. has leased a 120,000-square-foot office property in Parsippany, N.J., that it plans to purchase next year for an undisclosed price.

The pharmaceutical marketing and consulting firm will relocate its regional operation to 11 Waterview Blvd. from nearby Totowa this fall and intends to purchase the new building from the owner, UFP LP, in early 2008.

The building is part of the Waterview Corporate Center, which fronts on Route 46, at the intersection of I-80 and I-287, offering immediate highway access.  more...

Big Florida warehouse sells at $48 a square foot

Cornwall Road Warehouse, a 242,000-square-foot warehouse complex in Sanford, Fla., recently sold to an out-of-state buyer for $11.6 million.

Ohio-based MAS Cos. purchased the facility from Humphrey Realty Inc. at 97 percent occupancy.

Located at 1201 Cornwall Road, the building is situated on a 10.2-acre lot, and was renovated in 1997 and 2001.

Tenants at the time of sale included All Pro Freight and Florida Extruders, both of which have renewed their leases through 2010.