Duty Free Americas owner will have to pay taxes on this sale

It last sold for $13.5M in 2008

Miami /
Nov.November 04, 2019 09:05 AM
1000 Southeast 8th Street, Andrew Gurewitsch and Harry Weisman and Barry Katz

1000 Southeast 8th Street, Andrew Gurewitsch and Harry Weisman and Barry Katz

The party keeps going for Hialeah’s red hot industrial market.

Wheelock Street Capital, in a partnership Mitchell Property Realty, paid $26.8 million for a 234,146-square-foot fully-leased warehouse at 1000 Southeast 8th Street in Hialeah. The price breaks down to $114 per square foot.

The warehouse is close to the Miami International Airport and is fully leased by Tuuci, a high-end manufacturer of shade platforms and outdoor furniture.

Meuchadim of Florida LP, a Delaware company tied to Simon and Jana Falic, sold the property, records show. Simon Falic is the CEO of Duty Free Americas.

The 8.27-acre site can be used as a last-mile infill distribution center, according to a press release. The property, developed in 1976, last sold for $13.5 million in 2008.

Andrew Gurewitsch and Harry Weisman of Windsor Realty Partners represented the buyer, and the seller was represented by Barry Katz of Global Connections Realty.

Simon Falic and his brothers purchased Duty Free Americas, a retailer whose goods are exempt from certain taxes, in 2001. Last year, Falic and his wife purchased a home in Bal Harbour Island for $5.5 million.

Wheelock Street Capital is a private real estate firm founded in 2008 by Merrick R. Kleeman and Jonathan H. Paul. It is headquartered in Greenwich, Connecticut and Boston. Mitchell Property Realty was founded in 2019 by Edward Mitchell and owns another industrial property in Coral Springs.

Hialeah is seeing a rush of new investment due to its proximity to the airport and a recent change in zoning. Foundry Commercial recently bought an 18-acre site in Hialeah Gardens for $13.1 million where it plans to build a 320,000 square foot speculative industrial development.

Avra Jain is partnering with David Martin of Terra to refurbish an aging industrial complex at 4800 Northwest 37th Avenue. The site is just north of the Hialeah Market Station and Tri-Rail/Metrorail Transfer Station, where the city recently up-zoned 300 acres to allow for more commercial and residential development.


Related Articles

arrow_forward_ios
FECI's Kolleen Cobb with Countyline Corporate Park and the new sites at 4181 and 4241 West 108th Street (Google Maps)
FECI plans Countyline Corporate Park expansion with $33M construction loan
FECI plans Countyline Corporate Park expansion with $33M construction loan
The Easton Group's Edward Easton and a rendering of the warehouse project
Easton scores $24M construction loan for Hialeah Gardens spec warehouse
Easton scores $24M construction loan for Hialeah Gardens spec warehouse
Prestige Companies CEO Marty Caparros Jr. and COO Alexander Ruiz with (from top) 1201 Palm Avenue, 40 West 23 Street and 2290 Palm Avenue (Google Maps)
Prestige scores $21M construction loan for three Hialeah workforce housing complexes
Prestige scores $21M construction loan for three Hialeah workforce housing complexes
EverWest CEO Rick Stone and TA Realty Managing Partner James Buckingham with 14001 Northwest 112th Avenue (Google Maps)
TA Realty buys Hialeah Gardens warehouse for $26M
TA Realty buys Hialeah Gardens warehouse for $26M
The Estate Companies Managing Principal Robert Suris and Principal Jeffrey Ardizon with the existing Ramada Inn property and renderings of Alture Westland multifamily building (The Estate Companies)
Estate Companies scores $30M construction loan to turn Hialeah Ramada into multifamily
Estate Companies scores $30M construction loan to turn Hialeah Ramada into multifamily
Terreno Realty CEO W. Blake Baird and Countyline Corporate Park
Terreno Realty pays $50M for two buildings at FECI’s Hialeah industrial complex
Terreno Realty pays $50M for two buildings at FECI’s Hialeah industrial complex
3690 Northwest 62nd Street, Hialeah
Grocery wholesaler buys Hialeah warehouse for record $12M
Grocery wholesaler buys Hialeah warehouse for record $12M
From left: GLP Capital Partners’ Alan Yang, David Martin and Stephen Bittel with 7777 Northwest 41st Street in Doral (Google Maps; GLP; Terra)
Terra, Terranova sell 24-acre property in Doral for $55M
Terra, Terranova sell 24-acre property in Doral for $55M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...