Martinez Distributors Acquires 171178-sf Warehouse In Hialeah For $52.89M From Drew Dewitt And Klaas Vlietstra

The property involved in this transaction is a newly built industrial asset located at 11000 West 36th Avenue in Hialeah, covering an area of 9.4 acres. The sale price is $52,890,000, with a total square footage of 171,178 and a price per square foot of $309.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $52,890,000
• Address: 11000 West 36th Avenue
• Market: Hialeah
• Acres: 9.4
• Buyer: Martinez Distributors
• Seller: Drew Dewitt - East End Capital; Klaas Vlietstra - VlietCo Enterprises
• Lender: Popular Bank
• Financing Amount: $62,000,000
• Wetlands Acquired: 15 acres
• Guarantees: Martinez Investment Group and its principals

The deal was facilitated by entities associated with East End Capital and VlietCo Enterprises as sellers. Popular Bank provided the financing for the transaction, which was secured in part by another warehouse owned by Martinez Distributors.