Sagard Bets Big on Miami Industrial with SeaVee HQ Acquisition

MIAMI, FL – February 25, 2026 – In a significant move underscoring the intense investor appetite for South Florida industrial real estate, Sagard Real Estate has acquired the Class A manufacturing headquarters of iconic boatbuilder SeaVee Boats for an undisclosed sum. The 186,731-square-foot facility, a modern three-building campus in the prime Medley submarket, was immediately leased back to SeaVee on a long-term basis, securing a stable, high-value tenant for the new owner.

The transaction highlights a key strategy for institutional investors in today's market: acquiring mission-critical, high-quality assets in supply-constrained regions. The property at 11102 NW South River Drive, built in 2019, is not just a warehouse but the nerve center for SeaVee Boats, a globally recognized brand in the custom sportfishing vessel industry. This sale-leaseback arrangement provides SeaVee with capital while allowing Sagard to add a premier, income-generating asset to its expanding U.S. industrial portfolio.

“Miami continues to be one of the most dynamic and supply-constrained industrial markets in the country,” said Matt DiVito, Director of Acquisitions at Sagard Real Estate, in a statement. “This acquisition adds a newly constructed, mission-critical manufacturing facility in the premier Medley submarket, secured by a long-term lease with contractual rent growth.”

Miami's Industrial Market: A Magnet for Capital

Sagard's investment comes as the Miami-Dade industrial market continues to be a focal point for national and international capital, driven by robust population growth, its role as a logistical gateway to Latin America, and a chronic shortage of developable land. While a recent surge in construction has slightly increased vacancy rates to around 4.2%, this figure remains well below the national average and is seen by analysts as a sign of the market absorbing new supply rather than a downturn in demand.

Indeed, the fundamentals remain exceptionally strong. Over the past five years, industrial rents in Miami have skyrocketed by over 58%, far outpacing the national average. The Medley submarket, where the SeaVee facility is located, is particularly coveted. Known as Miami's dominant logistics hub, it offers superior access to major transportation arteries, including the Florida Turnpike and Palmetto Expressway. This has kept occupancy tight and rent growth among the highest in the county, with a year-over-year increase of nearly 25% recently recorded in the Airport North/Medley area.

Despite a record 5.4 million square feet of industrial space delivered in the past year, much of it was pre-leased, demonstrating the deep well of tenant demand. While the pace of new construction is expected to moderate, the existing scarcity of infill land ensures that well-located, modern properties will retain their value and appeal to investors seeking long-term growth.

The Strategic Power of the Sale-Leaseback

The structure of the deal is as significant as the asset itself. By executing a long-term sale-leaseback, Sagard has mitigated investment risk and secured a predictable income stream with built-in rent escalations. The tenant, SeaVee Boats, is a critical component of this stability. As a high-end manufacturer with deep roots in South Florida, its headquarters and production facility are essential to its operations, making a relocation highly unlikely.

This arrangement is particularly attractive in the current economic climate. The global luxury boat market continues to show resilience and growth, with projections indicating a compound annual growth rate of over 5%. This sector, often insulated from broader economic fluctuations due to its affluent customer base, provides a stable foundation for SeaVee's business and, by extension, its tenancy. For Sagard, this translates into a reliable return on investment backed by a strong operator in a growing industry.

This strategy aligns with the investment advisor's broader approach. Sagard, which is part of a global alternative asset manager with over US$32 billion under management, has been methodically acquiring high-quality industrial properties across the United States. Recent acquisitions in other high-growth, supply-constrained markets like Charlotte, Houston, and Greater Boston demonstrate a consistent national thesis focused on functional, well-located assets with strong tenant profiles.

More Than a Warehouse: Fueling Specialized Manufacturing

This acquisition also sheds light on the evolving nature of industrial real estate, which increasingly serves specialized manufacturing needs beyond simple storage and distribution. The SeaVee facility is a prime example of a modern Class A property designed for complex production. Its specifications—including 27-foot clear heights, heavy three-phase power for machinery, ESFR sprinklers, and conditioned warehouse space—are essential for the precision and quality required in building custom sportfishing vessels.

The property's strategic location in Medley provides critical logistical advantages for a manufacturer with a global clientele. Its immediate proximity to major highways facilitates the movement of raw materials and finished products. Furthermore, its connectivity to Miami International Airport (MIA) and PortMiami is a significant operational benefit. MIA stands as the nation's top airport for international freight, handling a record 3 million tons of cargo in 2024, while PortMiami serves as the 'Cargo Gateway of the Americas.' This integrated transportation network allows SeaVee to efficiently source components and ship its world-class boats to customers around the globe.

For Sagard Real Estate, the asset's modern functionality and strategic infill location were key drivers of the investment. It represents a bet not just on the strength of the Miami market, but on the enduring value of specialized industrial facilities that form the backbone of local and global manufacturing economies.