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Hersh Equity Group, one of the most active small-bay industrial buyers in Florida, has closed on the $47.25 million purchase of a six-building, 230,000-square foot portfolio located in the West Park/Hollywood submarket from the builder, marking the first time the property has traded hands since its construction in the 1980s.
Located off State Road 7 between Florida’s Turnpike and Interstate 95 and neighboring Home Depot, the property encompasses 9.5 acres of land. The West Park portfolio located at 5801-5897 SW 21 St., 5901-5981 SW 21 St., and 2100 SW 59 Ave. is home to 116 tenants.
“Hersh Equity Group (HEG) is excited to announce the $47.25 million ($206/SF) purchase of the six-building, 230,000-square-foot West Park/Hollywood submarket portfolio, which was six years in the making,” said Juda Hersh, President and Co Managing Partner of Hersh Equity Group. “The purchase is a milestone for Hersh Equity Group, which has grown its portfolio to more than 900,000 square feet and more than $150 million of assets.”
“Hersh Equity Group identified the portfolio in 2020 and began developing the relationship that would ultimately lead to the successful acquisition, an important strategic step in the company’s growth as Florida’s most active small bay industrial buyer,” said Corey Schwartz, HEG’s Co-Managing Partner. “Ownership recognized Hersh Equity Group as the best buyer for this legacy asset due to our tenacity, integrity, and overall commitment to a successful closing.”
HEG was represented by Adam Weiss of Weiss Law in both the purchase and financing agreements. Jordan Beck, of Berger Commercial, leveraged his 4-year long relationship with the seller to facilitate this transaction.
HEG has an additional 220,000 square feet of industrial space under contract. For more information about the Hersh Equity Group team, please visit https://hershequity.com or email acquisitions@hershequity.com.
About Hersh Equity Group:
Hersh Equity Group (HEG) is a Boynton Beach-based, family-owned and operated real estate investment firm focused on value-add commercial real estate with a primary focus on multi-tenant industrial properties in Florida’s primary markets. HEG leverages a fully integrated platform to manage and lease its properties while executing all construction in-house, ensuring quality, efficiency, and control at every stage. For more information, please visit https://hershequity.com/.
