Mindful Capital Group Buys Broward County Warehouse for $18M
By Julia Echikson July 16, 2021 3:42 pm
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Mindful Capital Group purchased a Broward County warehouse for $17.8 million, according to property records.
The 29,866-square-foot property, located at 3600 NE 4th Avenue, sits between Dixie Highway and Oakland Park Boulevard in Oakland Park, Fla.
The seller, OPIC LLC, bought the property for $7 million in 2014, per records.
Based in Delray Beach, Mindful Capital specializes in the acquisition, repositioning and management of industrial real estate assets in South Florida. Its portfolio includes 19 properties worth $200 million, the company says.
Representatives for Mindful Capital did not immediately respond to a request for comment, while OPIC could not be reached for comment.
As is the case across the country, South Florida’s industrial market is sizzling. “The region saw its strongest quarterly performance in 11 years,” a Newmark market report noted.
The absorption for leasing jumped by 1 million square feet to 2.6 million between the first and second quarter of 2021, according to the report. Vacancies dropped half a percentage point to 4.6 percent.
Investment sales totaled more than 3 million square feet, worth $451 million in the first half of 2021, per the report. This was up from the 1.9 million square feet, which sold for $277 million during the same time frame the previous year.
