Clearwater industrial property sold in $23M statewide deal

By Breanne Williams  –  Reporter, Tampa Bay Business Journal  (original Article from BizJournal here)

Oct 3, 2022

Delray Beach-based Redfearn Capital, a private equity commercial real estate company, has acquired two Florida industrial properties in a $23 million deal.

The company “targets value-add, distressed and opportunistic investment opportunities,” according to a release. On Sept. 27, Redfearn closed on two deals, one in Pompano Beach and one in Clearwater. In total, the two properties contain 153,950 square feet of industrial facilities.

“These two industrial assets offer an exceptional value-add opportunity in both of these booming industrial markets,” Alex Redfearn, principal and founder of Redfearn Capital, said in a release. “Our team was able to secure both properties off-market and execute in a challenging economic environment.”

The Clearwater facility is located at 3939 Airway Circle and 13200 40th St. N and sold for $12.825 million, according to a release. The industrial buildings total 103,750 square feet and are both occupied by SupplyOne. The company currently has 48 locations in 22 states.

The Pompano Beach property is located at 450 E. Copans Road and sold for $10.25 million, according to a deed filed in Broward County. It features a 50,200-square-foot property fully leased by a single tenant at the time of the sale. 

Redfearn Capital has more than $450 million worth of assets and more than 3.5 million square feet, focusing on industrial assets under its management.

About Redfearn Capital

Redfearn Capital is a private real estate investment firm based in Delray Beach, Florida with over $600 million of assets under management and over 3 million square feet in three states with a focus on industrial, office, and medical office assets.

The Company’s approach to commercial real estate investing is branded by a significant emphasis on tenant relationships through a dedicated management team and experienced investment professionals. Redfearn Capital focuses on strategic real estate acquisitions with a strong and reliable tenant base in unique locations in South Florida and Colorado.