Updated Aug 5, 2025
Martinez Distributors Acquires 171178-sf Warehouse In Hialeah For $52.89M From Drew Dewitt And Klaas Vlietstra
11000 West 36th Avenue
$52,890,000
$309/SF
Building Size
171,178 SF
Asset Type
Industrial
Closing
Aug 5, 2025
About this deal
AI
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.
On the Map
$52,890,000
$309/SF
Industrial
View full map
Players
Hialeah Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Deal FAQ
Visit Drew Dewitt to view all their deals.
Browse Hialeah industrial sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93