SeaVee Boats has cashed out of its Medley headquarters in a roughly $51 million sale-leaseback, handing the keys to a national investor while choosing to stay right where it is. The deal covers a three-building, 186,731-square-foot manufacturing campus in northwest Miami-Dade that will keep cranking out the company’s boats.
In a press release, Sagard Real Estate said it acquired the 186,731-square-foot campus at 11102 NW South River Drive and immediately executed a long-term leaseback with SeaVee. Sagard described the site as a modern light-manufacturing facility with 27-foot clear heights, heavy three-phase power and conditioned warehouse space, the kind of setup industrial investors like to brag about in marketing decks.
SVN Commercial Realty brokers Joel Kattan and Anthony Peragine represented the buyer. A transaction summary from Traded lists the sale price at $51 million, which works out to about $273 per square foot, and notes that the property spans roughly 9.14 acres. Traded also reports that the building was completed in 2019 and that the same brokers had sold the land to SeaVee about a decade earlier, bringing the story full circle.
The facility supports production of about 175 boats per year, a company figure reported by the South Florida Business Journal. SeaVee will remain headquartered at the Medley campus under the new lease, and the company lists the same address on its website, according to SeaVee Boats.
Why investors are snapping up Miami industrial
Sagard Real Estate framed the purchase as part of a bigger bet on Miami’s tight industrial market, pointing to the Medley submarket’s connectivity to PortMiami and major highways as a key draw. Modern manufacturing campuses like SeaVee’s do not come to market often, and Sagard said the property’s mission-critical nature combined with contractual rent growth creates a predictable income stream for its investors.
What comes next for SeaVee
For SeaVee, the sale-leaseback structure frees up capital that can be funneled into production, inventory or new-model development while keeping its footprint in northwest Miami-Dade intact. Traded noted that the brokers who handled the deal had a prior relationship with the company, a detail that signals continuity for the Medley operation even as the ownership behind the walls changes hands.
