Sunny Isles mayor sells Hialeah warehouse for $13M

Sunny Isles mayor sells Hialeah warehouse for $13M

Mayor Bud Scholl and EverWest CEO Rick Stone with 1101 East 33rd Street, Hialeah (City of Sunny Isles Beach, EverWest)

Mayor Bud Scholl and EverWest CEO Rick Stone with 1101 East 33rd Street, Hialeah (City of Sunny Isles Beach, EverWest)

A company tied to the mayor of Sunny Isles Beach and a fellow South Florida real estate investor sold a 160,000-square-foot warehouse in Hialeah for $13.1 million.

George “Bud” Scholl, elected mayor in 2014 and re-elected in 2018, and investor Steven M. Rhodes sold the industrial building at 1101 East 33rd Street, The Real Deal has learned.

EverWest Real Estate Investors, a Denver-based subsidiary of Canadian GWL Realty Advisors, bought the property, according to Andrew Gurewitsch of Windsor Realty Partners, who represented the sellers in the off-market deal.

Andrew Gurewitsch

Andrew Gurewitsch

The building is fully occupied with two long-term tenants: IC Industries, a South Florida corrugated box manufacturing and delivery service, and Schwarz Partners Packaging, part of an Indianapolis-based holding company with interests in corrugated paper and packaging, according to a release.

Built in 1956, the building has 18- to 22-foot clear heights. Scholl and Rhodes bought the building in March 2019 for $9.5 million, records show.

Rhodes’ past deals include selling a two-building industrial property in the West Little River neighborhood of Miami for $10.4 million in 2018, and selling the Orlean building at the entrance of the Miami Design District for $9 million in 2017.

Hialeah has been a popular market for industrial deals in recent months. In November, Gurewitsch represented the buyer in a $26.8 million deal for a 234,146-square-foot fully-leased warehouse at 1000 Southeast 8th Street in Hialeah.

Other recent industrial deals in the Hialeah area include the O’Donnell Group buying an industrial property near Hialeah for $7.6 million in April, and Zaragon buying an industrial facility near Hialeah for $7.55 million in May.

The post Sunny Isles mayor sells Hialeah warehouse for $13M appeared first on The Real Deal South Florida.

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