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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