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Doubling Up: Ares Pays $62M For Two Hialeah Industrial Buildings Under Construction

Ares Management made a $62 million double play in South Florida’s industrial market, picking up a pair of Hialeah warehouses under construction.

An affiliate of the Los Angeles-based global alternative investment manager paid $37 million for a 9.6-acre site at 410 West 104th Street, and $25 million for an adjacent 10.2-acre parcel, according to records. The seller, an affiliate of Florida East Coast Industries, or FECI, recently began building two warehouses consisting of 214,907-square-feet, each, on the two lots. The property is within the master-planned 95-acre Countyline Corporate Park.
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Two Warehouses Under Construction Fetch $62 Million

Countyline Corporate Park 1200x600

Ares Management made a $62 million double play in South Florida’s industrial market, picking up a pair of Hialeah warehouses under construction.

An affiliate of the Los Angeles-based global alternative investment manager paid $37 million for a 9.6-acre site at 410 West 104th Street, and $25 million for an adjacent 10.2-acre parcel, according to records. The seller, an affiliate of Florida East Coast Industries, or FECI, recently began building two warehouses consisting of 214,907-square-feet, each, on the two lots. The property is within the master-planned 95-acre Countyline Corporate Park.

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These Four Miami-Dade Cities May Be Expanding. County Commission Will Decide

A plan hatched nearly two decades ago to expand the boundaries of four municipalities in western Miami-Dade County may finally become a reality.

County commissioners will hold an initial public hearing Wednesday on a proposal to divvy up eight square miles of mostly industrial and commercial land in unincorporated Miami-Dade among the cities of Doral, Medley, Miami Springs and Virginia Gardens.

If approved, the plan would increase the size and tax base of the four cities west of Miami International Airport and south of West Okeechobee Road. Virginia Gardens would see the most drastic change — the village, which is less than one square mile, would grow to more than six times its current size.
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