Updated Oct 23, 2026
Marshall A. Loeb Of EastGroup Properties Acquires 24.9 Acre Development Site In Hialeah Gardens For $25.7M
Northeast Corner Of West Okeechobee Road
$25,700,000
Building Size
—
Asset Type
Development Site
Closing
Oct 21, 2026
About this deal
AI
A 24.9-acre industrial development site located at the northeast corner of West Okeechobee Road in Hialeah Gardens has been sold for $25.7 million. The site has plans previously filed to rezone for the construction of two warehouses totaling 371,460 square feet.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $25,700,000
- Buyer: Marshall A. Loeb - EastGroup Properties
- Seller: Lowell S. Dunn & Lowell S. Dunn II - F 68-4 and F 69-2 LLC
- Date of Sale: 10/21/2026
The transaction was led by Marshall A. Loeb, who represents EastGroup Properties, while the sellers were represented by Lowell S. Dunn and Lowell S. Dunn II from F 68-4 and F 69-2 LLC, highlighting the involvement of key individuals in this deal.
On the Map
$25,700,000
Development Site
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Moore Haven Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93