A wholesale grocery company bought a 122,000-square-foot industrial property in Hialeah for a record $11.6 million.
Thirty Six Ninety LLC sold the property at 3690 Northwest 62nd Street to Alfoncito Investments. The buyer is tied to Rex Discount wholesale grocery, which will occupy the building, according to a press release.
Lines are starting to blur with small properties.
Investors that typically make small buys are starting to buy larger properties. And, some investors specializing in large assets are looking at smaller deals in the most popular property types, according to a new report from Green Street’s Real Estate Alert.
It’s not just massive firms like Blackstone Group and Prologis that are throwing billions of dollars at warehouses — foreign investors are also pouring money into the booming industrial sector.
Investment firms from France, Germany and South Korea are among those that have recently inked big deals for industrial properties, according to the Wall Street Journal. That comes even as overall foreign investment into U.S. real estate has plummeted due to the pandemic. Real Capital Analytics pegged that total as down by 31 percent in 2020. Continue reading