Sunny Isles mayor sells Hialeah warehouse for $13M

Sellers paid $9.5M for the property in 2019

Miami /
Oct.October 21, 2020 06:30 PM
Mayor Bud Scholl and EverWest CEO Rick Stone with 1101 East 33rd Street, Hialeah (City of Sunny Isles Beach, EverWest)

Mayor Bud Scholl and EverWest CEO Rick Stone with 1101 East 33rd Street, Hialeah (City of Sunny Isles Beach, EverWest)

A company tied to the mayor of Sunny Isles Beach and a fellow South Florida real estate investor sold a 160,000-square-foot warehouse in Hialeah for $13.1 million.

George “Bud” Scholl, elected mayor in 2014 and re-elected in 2018, and investor Steven M. Rhodes sold the industrial building at 1101 East 33rd Street, The Real Deal has learned.

EverWest Real Estate Investors, a Denver-based subsidiary of Canadian GWL Realty Advisors, bought the property, according to Andrew Gurewitsch of Windsor Realty Partners, who represented the sellers in the off-market deal.

Andrew Gurewitsch

Andrew Gurewitsch

The building is fully occupied with two long-term tenants: IC Industries, a South Florida corrugated box manufacturing and delivery service, and Schwarz Partners Packaging, part of an Indianapolis-based holding company with interests in corrugated paper and packaging, according to a release.

Built in 1956, the building has 18- to 22-foot clear heights. Scholl and Rhodes bought the building in March 2019 for $9.5 million, records show.

Rhodes’ past deals include selling a two-building industrial property in the West Little River neighborhood of Miami for $10.4 million in 2018, and selling the Orlean building at the entrance of the Miami Design District for $9 million in 2017.

Hialeah has been a popular market for industrial deals in recent months. In November, Gurewitsch represented the buyer in a $26.8 million deal for a 234,146-square-foot fully-leased warehouse at 1000 Southeast 8th Street in Hialeah.

Other recent industrial deals in the Hialeah area include the O’Donnell Group buying an industrial property near Hialeah for $7.6 million in April, and Zaragon buying an industrial facility near Hialeah for $7.55 million in May.


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
CubeSmart CEO Christopher Marr (Google Maps, LinkedIn via CubeSmart)
CubeSmart buys Weston self-storage for nearly $12M
CubeSmart buys Weston self-storage for nearly $12M
Valerio Spinaci and 1506 Collins Avenue (Google Maps)
Triarch buys Dania Beach industrial property for $10M
Triarch buys Dania Beach industrial property for $10M
arrow_forward_ios

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

Loading...