eBay car stereo retailer buys Hialeah warehouse

Entity managed by Techronics executives paid $267 psf

eBay car electronics retailer Techronics is turning up its distribution volume in Hialeah.

An entity managed by Techtronics President Sharome Yerushalmi and company CEO Yoel Gidanian paid $10 million for a roughly 37,000-square-foot warehouse at 3130 West 15th Avenue, records show. Popular Bank provided the buyer with a $5.5 million mortgage.

The deal breaks down to $267 a square foot. Benjamin Silver and Sebastian Misiewicz with CBRE represented the seller, a Miramar entity managed by Jimmy Ng, Mindy Ng, Danny Shiu and Ying Shiu.

In 2020, the Ng and Shiu entity paid $4.5 million for the 1.75-acre site, records show. The warehouse was completed in 1988.

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Based in Gardena, Calif., Techronics has been selling car stereos, speakers, amplifiers and other auto electronics on eBay since 2009, selling 302,000 items, according to its online store. Techronics plans on using its Hialeah acquisition to expand its high-end electronics business, a press release states.

Miami-Dade County’s industrial market ended 2022 with another consecutive quarter of supply outpacing demand, according to a recent JLL report. Asking rents hit nearly $15 a square foot in the fourth quarter of last year compared to $10.32 a square foot during the same period of 2021. In the next 18 months, developers will deliver 9 million square feet of new industrial space in Miami-Dade, JLL found.

Among new Miami-Dade projects on deck is a proposed data center by Sweetwater-based EdgeConnex. The company is proposing a 173,000-square-foot facility at Beacon Station industrial park in west Miami-Dade County. This month, EdgeConnex paid $13.7 million for the 6.3-acre site.

Ares Management is proposing a three-building industrial complex at Countyline Corporate Park in Hialeah. This month, the Los Angeles-based real estate developer bought the 52-acre development site for $111.1 million.

In Homestead, Berkowitz Development Group picked up 19 acres for $6.7 million. The Coconut Grove-based firm plans to build a 400,000-square-foot industrial project on the development site near Homestead-Miami Speedway.