Florida & Gulf Coast + South Florida + Industrial | March 1, 2021

TRS Arranges $12M Sale of Hialeah Industrial Property

Transwestern Real Estate Services has arranged the $11.6 million sale of a 122,000-square-foot industrial property at 3690 NW 62nd St. in Miami’s Hialeah submarket.

Ben Eisenberg, Walter Byrd, Thomas Kresse and Carlos Gaviria of TRS represented the seller, Thirty Six Ninety LLC, in the transaction. SVN Commercial Realty’s Joel Kattan and Anthony Peragine represented the buyer, Alfoncito Investments Inc., in the transaction. Alfoncito Investments, a principal of Rex Discount wholesale grocery, will occupy the free-standing building.

“A centralized location and a lack of new product under construction have kept Hialeah’s vacancy below Miami’s already low levels,” said Keith Pierce, vice president of research at Transwestern. “South Florida continues to face rising demand for quality industrial product based on its status as a gateway to Central and South America.”

According to Transwestern research, Hialeah ended 2020 with 5.3% vacancy compared to Miami at 5.6%.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.