November 13, 2023 – CityBiz article can be found here.
In a strategic move to broaden its already substantial industrial property portfolio, Redfearn Capital, a Delray Beach-headquartered private equity firm with a keen eye for real estate ventures, recently sealed the deal on two industrial properties in Florida for a combined total of $7.15 million.
The first acquisition is a versatile multi-tenant warehouse located at 8330 Currency Drive in Riviera Beach, Florida. This property boasts 17,680 square feet of space and occupies a 2.5-acre plot in the Central Industrial Park North. Built in 2003, the facility is designed with practicality in mind, featuring glass front doors leading into modest office spaces, private restrooms, and sizable 12’ x 12’ overhead doors, all under an 18’ clear ceiling. The transaction was facilitated by Douglas Mandel and Zach Levine of Marcus & Millichap, representing the seller, CURRENCY DRIVE PROP OWNER LLC.
The second property, a sizable industrial distribution center in Pompano Beach, sits at 2171 Blount Road within the confines of Turnpike Industrial Park. Constructed in 1988, this 21,000-square-foot building is positioned on 3 acres. Redfearn Capital initially engaged with the property as a vacant building. However, through diligent evaluation, they successfully negotiated a long-term lease with ABC Supply Co., a tenant already within Redfearn’s investment circle, before finalizing the purchase. The seller, FUHR PROPERTIES LLC, was represented by Les Byron from SVN Commercial Realty.
Alex Redfearn, the Principal at Redfearn Capital, expressed enthusiasm about expanding their presence in Riviera Beach and Pompano Beach, areas where they have established investments. He highlighted the firm’s proactive approach in seeking industrial investments in the Southeast, particularly in the current climate of rising interest rates.
Redfearn Capital’s portfolio is impressive, encompassing over 1.5 million square feet of industrial space across Palm Beach and Broward Counties. Their track record includes 55 property acquisitions throughout Florida and the Southeast, amounting to over $600 million.
Redfearn himself emphasized the company’s commitment to integrity and excellence, even in challenging market conditions, as a distinguishing factor in the industry.
Redfearn Capital LLC specializes in private equity commercial real estate investments, managing assets worth more than $600 million and covering over 4.0 million square feet, with a concentrated interest in industrial properties across the Southeast. The firm is recognized for its strong tenant and broker relations, propelled by an in-house property management team and seasoned investment experts. They continue to target prime real estate opportunities in the Southeastern U.S., building a robust portfolio and solidifying their market position. For further information, Redfearn Capital’s insights and endeavors can be explored at their website, www.redfearncapital.com.