3333 Southwest 2nd Avenue Update 04/30/24

DoveHill Capital Partners Launches its Second Real Estate Vertical With the Purchase of a Class-B Industrial Property in Fort Lauderdale



DoveHill Capital Partners (DoveHill), known for its hospitality-centric unique approach in the real estate space, announces its diversification into a second vertical and its first acquisition in that vertical.


Since 2004, DoveHill's presence in South Florida has allowed it to monitor several key trends in East Fort Lauderdale and its surrounding regions. The company has amassed extensive market knowledge, gained valuable insights, and forged vital relationships.


While DoveHill has historically been a hospitality-focused, vertically integrated investment firm, it has been monitoring Class B industrial spaces in East Broward and Palm Beach counties of Florida for some years. 


Our entry into this vertical has launched with the closing of our first Class-B Industrial property purchase located at 3333 SW 2nd Avenue, Fort Lauderdale, FL. The property is a 10,000-square-foot industrial and warehouse facility whose great location is adjacent to Port Everglades, Fort Lauderdale International Airport and major south Florida transportation hubs.


DoveHill is expanding its expertise into Class B industrial, leveraging our deep local knowledge and established networks to capture unique investment opportunities. By focusing on sub-institutional assets valued between $2M and $15M in a unique high-growth market, we aim to harness market inefficiencies and drive significant returns through strategic investments in high-quality industrial properties. This move builds on our rigorous hospitality sector experience, applying our operational excellence and infrastructure to a new, highly promising real estate vertical.


Why is DoveHill diversifying into Class B industrial spaces in this area? Class B industrial spaces are increasingly valuable due to their irreplaceable locations, cost-prohibitive new development, and resilient, growing demand from diverse tenants like contractors and emerging business models such as ghost kitchens. These factors and the predictable costs and potential for significant value appreciation present a compelling opportunity for strategic investments that capitalize on market inefficiencies and generate robust returns.


Founder and CEO Jake Wurzak says, "Individual deal sizes fly under the institutional buyer radar on a per deal basis but are often too big for small real estate investors, which will allow DoveHill to leverage its existing real estate platform to execute on this specific opportunity set with a competitive edge. Our vision is to grow an institutional portfolio of sub-institutional assets."


Executive Vice President for Investments Charles Paloux states, " long tradition of sourcing off-market and lightly marketed deals through boots-on-the-ground relationships allows us here, too, in this Class B industrial market, to access tremendous in-demand real estate at reasonable prices."


About DoveHill Capital Partners


Established in 2011 and headquartered in Fort Lauderdale, Florida, DoveHill Capital Partners is a vertically integrated hospitality investment and development organization.


As part of its strategic vision and after investing at attractive entry points, DoveHill works to remodel and redesign the real estate to create operational efficiencies and memorable guest experiences.


The company focuses on preferred equity, experiential hospitality and value-add invest


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