June 3, 2020
An entity affiliated with The Easton Group has acquired an eight-acre development site in Hialeah Gardens for $8.2 million. The transaction completes the second half of a land assemblage that started nine months ago. The first site, which is also 8.5 acres, was acquired by a different Easton affiliate in September 2019 for $5.6 million. The seller in the transaction was Seagull Development Holdings.
The Easton Group plans on developing the entire property with a 266,000-square-foot warehouse/distribution facility with a 32-foot clear ceiling height and 75 trailer parking spaces. Construction is slated to start in the first quarter of 2021.
“While there has been some slowdown in industrial real estate deals due to the pandemic, we are bullish on the market in the near future and going forward,” said Dalton Easton, an associate with Easton’s brokerage division who represented the buyer. “There are only a few good development sites left in Miami-Dade at the right price and we think we found one. It should be ideal for an ecommerce company or distributor that wants to relocate or requires additional space.”
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