Granite REIT acquires fully leased logistics center in Coral Springs

MIAMI, July 2, 2025 – JLL Capital Markets announced today the sale of Coral Springs Logistics Center, a recently constructed, fully leased industrial property in Broward County, Florida.

JLL represented the seller, a venture between Barings Real Estate and Arkadia Property Group, in the transaction with Granite REIT acquiring the asset.

The 124,500-square-foot property consists of two read-load buildings completed in 2021, leased to Exclusive Trim, Inc., a regional wholesale building materials company, and Marc Refrigeration, a leading manufacturer of commercial refrigerators.

Located at 3850-3872 NW 126th St. in Coral Springs, Florida, the property is strategically positioned adjacent to the Sawgrass Expressway, connecting to Florida's Turnpike, I-595, I-75 and I-95. This central location enables tri-county last-mile logistics capabilities with access to over 6.6 million people within a 90-minute drive time and the region’s most populated MSAs: Miami, Broward County and Palm Beach County.

The JLL Capital Markets team included Senior Managing Director Luis Castillo, Managing Director Cody Brais, Associate Taylor Osborne and Analyst David Orta Jr.

"Coral Springs Logistics Center represented a rare opportunity to acquire Class A industrial assets in one of the premier land and supply-constrained coastal markets in the U.S.," said Castillo. "The property's exceptional specifications, central location and strong tenant roster with contractual rent growth made it an attractive acquisition, particularly in Broward County, where vacancy rates remain among the lowest in Florida and rent growth continues to outpace other markets in the region."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

Barings is a $442+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. Learn more at www.barings.com.

Arkadia Property Group is a real estate investment and development company carrying on a long legacy of successful endeavours. The driving elements behind these triumphs are vision for and tracking of trends and market moving factors on a macro and micro scale. Arkadia is rooted in fundamental know-how, understanding of underlying mechanisms, and experience. For more information, visit https://www.arkadiapropertygroup.com.

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 144 investment properties representing approximately 63.3 million square feet of leasable area.