An affiliate of global investment firm Barings purchased a pair of warehouses in the Coral Springs Research and Development Park for $31 million. ETI at Coral Springs LLC, managed by Luis Graef, who

is also the president of millwork company Exclusive Trim, sold the 128,563 square feet of warehouses at 3850 and 3872 N.W. 126th Ave. to BCPF Coral Springs Property Owner LLC, care of Barings in Charlotte, North Carolina. Arkadia Property Group in Miami partnered with Barings on the deal. The price equated to $241 a square foot. The warehouses were built on the 7-acre site in 2020 and 2021.

This is the first time they have sold. Exclusive Trim, which does millwork for homebuilders, is among the tenants there. It’s located on the east side of the Sawgrass Expressway.

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There’s been strong demand in the Broward County industrial market, which has pushed up property values. According to the first quarter report from Colliers, the industrial vacancy rate in Broward

was down to 4%, from 6.3% a year earlier, and the average asking rent increased to $10.81 a square foot, from $9.45 a square foot.