H
ersh Equity Group, a Boynton Beach-based firm, has acquired six warehouses in West Park, Broward County, for $47.2 million. The 228,000-square-foot complex was developed by Interstate Development Limited Partnership and features 116 tenants. This acquisition is part of Hersh Equity's statewide growth strategy, focusing on small bay industrial properties.

    The deal was an off-market transaction pursued by Hersh Equity since 2020, allowing the firm to secure a favorable price. The warehouses, built in the 1970s, span a combined 228,000 square feet, with a purchase price of $207 per square foot.

    Hersh Equity has been eyeing this portfolio for several years and developed a relationship with the sellers to get an inside track on the sale. The firm's statewide growth strategy includes another 220,000 square feet of industrial space under contract.

    This acquisition comes amidst signs of softness in South Florida's industrial market, but warehouses remain attractive targets for commercial real estate investors. Hersh Equity owns 14 warehouse sites across Broward, Palm Beach, Monroe, and Pinellas counties.