Easton Group picks up land in Hialeah Gardens for $8M

Easton Group is building a 146K sf warehouse on an adjacent site

TRD MIAMI /
May.May 22, 2020 10:30 AM
Easton Group’s Jose Hernandez-Solaun and and aerial of the site

Easton Group’s Jose Hernandez-Solaun and and aerial of the site

UPDATED, May 27, 10:45 a.m.: A company tied to the Easton Group bought an 8.4-acre property in Hialeah Gardens for $8.2 million.

Doral-based Easton Group bought the vacant land off the Florida Turnpike and Northwest 144th Street for $976,190 per acre, records show. A company tied to Ebsary Foundation Co., led by Richard Ebsary, sold the property.

Easton Group is planning to build a 266,000-square-foot warehouse on the property at Northwest 144th Street and an adjacent property, which will be used for e-commerce, according to Dalton Easton, who helped arrange the deal. The warehouse will start construction in the first quarter of 2021, according to Easton.

The land was last purchased for $3.8 million in 2016, records show.

Easton Group bought the adjacent property in September for $5.6 million, records show.

Easton Group was founded by Edward Easton in 1974. The firm handles commercial real estate sales, marketing, investment, brokerage, property management and development, according to its website. Its projects include International Corporate Park, a 300-acre master-planned business park west of Miami International Airport; and Seneca Commerce Center, a 48-acre master-planned office and industrial project in Broward County.

South Florida’s industrial market continues to remain one of its hottest asset classes. More developers are pushing west to Hialeah Gardens as land becomes scarce in the rest of Miami-Dade County. In October, Foundry Commercial purchased an 18-acre site in Hialeah Gardens, where it plans to build a 320,000-square-foot speculative industrial development.

The Hialeah Gardens and Medley submarket has 1.2 million square feet of warehouses under construction, according to Colliers International South Florida’s first quarter report. Warehouses in the submarket have a vacancy rate of 5.7 percent, according to the report.


Related Articles

arrow_forward_ios
From left: Avison Young’s David Duckworth, Michael Fay, John Crotty, and Brian C. de la Fé, with 7400 Northwest 37 Avenue (Credit: google Maps)

Zaragon pays $8M for industrial property near Hialeah

Zaragon pays $8M for industrial property near Hialeah
6501 Northwest 37th Avenue and CBRE’s Jake Zebede, Tom O’Loughlin and Larry Genet (Credit: Google Maps)

O’Donnell Group buys industrial site near Hialeah for $8M

O’Donnell Group buys industrial site near Hialeah for $8M
The site and listing brokers Markos Bertolotti and Carlos Fausto Miranda

55-acre site near Hialeah hits the market for $15M

55-acre site near Hialeah hits the market for $15M
Philip Procacci, 11430 Northwest 20th Street and 11410 Northwest 20th Street (Credit: Google Maps)

Procacci sells two office buildings near Dolphin Mall for $29M

Procacci sells two office buildings near Dolphin Mall for $29M
Carlos Mattos, 802 East 25 Street (Credit: Google Maps)

Carlos Mattos’ family buys Hialeah assemblage for $8M

Carlos Mattos’ family buys Hialeah assemblage for $8M
5900 Northwest 176th Street (Credit: Google Maps)

Mac Papers inks deal, sells warehouse near MIA for $15M

Mac Papers inks deal, sells warehouse near MIA for $15M
CenterPoint Properties CEO Bob Chapman and South Florida Logistics Center

CenterPoint buys an industrial property near MIA for $30M

CenterPoint buys an industrial property near MIA for $30M
A rendering of Bridge Point Commerce Center and Kevin Carroll, Partner, Southeast Region at Bridge Development Partners (Credit: CBRE)

Bridge Point Commerce Center inks lease with Caribbean grocery distributor

Bridge Point Commerce Center inks lease with Caribbean grocery distributor
arrow_forward_ios

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

Loading...