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Sunshine Gasoline Distributors expands storage space in Miami-Dade County
Doral-based petroleum company acquired Hialeah warehouse
Sunshine Gasoline Distributors beefed up its storage capacity by acquiring a Hialeah warehouse.
The Doral-based petroleum company is among the top gas station owners and commercial fuel distributors in Florida. In the tri-county region, Sunshine owns 92 commercial properties, a majority of which are service stations, records show.
Recently, Sunshine expanded its non-gas-station real estate portfolio by paying $18.2 million for a single-story industrial building spanning nearly 50,000 square feet at 2185 West 76th Street, according to records and real estate database Vizzda. The deal breaks down to roughly $364 a square foot.
The seller, Petroleum Equipment and Manufacturing Company, paid $1.5 million for the 2.7-acre site in 1992, records show. Built in 1982, the warehouse features 3,500 square feet of office space and four loading docks.
Sunshine also owns a single story office building in the unincorporated neighborhood of Kendall and a vacant lot used for vehicle storage near Miami International Airport, records show. Led by President Maximo Alvarez, Sunshine was founded in 1987. In addition to its own gas stations, Sunshine also sells wholesale fuel to more than 150 gas dealers, the company website states.
In other recent South Florida industrial deals, Invesco paid $23.8 million for two facilities with a combined 105,000 square feet. The Dallas-based firm acquired the property in Pompano Beach last month.
Invesco’s purchase was on the heels of Blackstone subsidiary Link Logistics continuing its shopping spree for industrial sites in Pompano Beach. Link bought a 93,873-square-foot manufacturing and distribution facility for $20.7 million in a deal that also closed last month.
In April, Darien, Connecticut-based East Capital Partners doubled its South Florida industrial portfolio by purchasing an industrial complex in Medley, a town in Miami-Dade. East Capital paid $17.5 million for eight warehouses totaling 85,138 square feet and a storage yard.