Private equity firm picks up Hialeah Gardens trucking facility

Timber Hill Group bought the property for $156,370 per acre

Nov.November 20, 2019 02:29 PM
Cary Goldman and 15545 Northwest 122nd Avenue (Credit: Zillow)

Cary Goldman and 15545 Northwest 122nd Avenue (Credit: Zillow)

A 51.8-acre truck parking facility in Hialeah Gardens sold for $8.1 million.

Timber Hill Group bought the property at 15545 Northwest 122nd Avenue for $156,370 per acre, records show. F&M Parking, which is led by Felix Rodriguez of Sunny Isles, sold the facility.

The property consists of 14 parcels and more than 1,300 parking spaces for trucks and trailers. It is 100 percent rented, according to Loopnet.

EquiTrust Life Insurance Co provided the buyer with a $25 million loan, records show.

Rosemont, Illinois-based Timber Hill Group is a private equity firm focused on acquiring and developing logistics-related industrial real estate throughout the U.S, according to its website. The company is led by Cary Goldman.

Industrial buyers are paying top dollar for last-mile distribution sites due to the rise of e-commerce.

In Hialeah Gardens, CanPen Holdings is building a 65,500-square-foot warehouse at 14600 Northwest 112th Avenue.

Last month, Foundry Commercial purchased an 18-acre site in Hialeah Gardens, where it plans to build a 320,000-square-foot speculative industrial development. The site is off of Northwest 107th Avenue.

Related Articles

Stephen Ross and a rendering of One Flagler (Credit: Getty Images)

Related Cos. revives plans for West Palm office tower

The Bristol and Pamela Applebaum

Drugstore scion pays $11M for unit at The Bristol

Christopher Nassetta and Doubletree by Hilton Doral managed by Driftwood Acquisitions and Development

Hilton CEO warns against ignoring global warming threat

Related Group building at 315 Biscayne Boulevard and Jorge Pérez (Credit: Google Maps)

Related Group lists downtown Miami HQ

5400 Hammock Drive and Timbaland (Credit: Getty Images)

Timbaland drops $8M on Coral Gables mansion

Seamless thumbs up background.

Mark your calendars: These are South Florida’s top real estate events next week

55 Palm Avenue (Credit: Realtor and iStock)

Metals executive mines Miami Beach home

Daily Digest Miami

Moishe Mana sells Hibiscus Island home for $12M, CitizenM scores $48M loan to build Brickell hotel