Tuesday, December 10, 2013

Vacant Hialeah Industrial Warehouse Gets Purchased And Leased On Same Day

Sharpe Properties is please to announce the purchase of a 3,600 square foot street-level industrial warehouse property by SP33 Warehouse, LLC (SP33 Warehouse).  With the help of Sharpe Properties, the new owner of the vacant warehouse was also able to have it fully leased out to a tenant on the same day as the purchase. The warehouse is located at 1040 East 33rd Street, Hialeah, Florida 33013, and Sharpe Properties will provide the property management and leasing.

Hialeah Warehouse Purchase

street-level industrial warehouse in Hialeah, Florida
Single-Bay Industrial Warehouse in Hialeah, FL
"The acquisition of this property was a perfect fit within our portfolio of Miami-Dade County industrial real estate. Because the location of this warehouse is adjacent to one of our other warehouse buildings we manage, we already knew the market rentals for the area," said Barry Sharpe, President of Sharpe Properties.

At the time of the purchase, the single-bay warehouse was completely vacant, and in need of improvements within the interior.  Because the warehouse was vacant and not generating income, bank financing was difficult to obtain.

Prior to closing on the property, Sharpe Properties identified a potential tenant to occupy the entire industrial warehouse bay, and began lease negotiations prior to SP33 Warehouse purchasing the property.  The Landlord, SP33 Warehouse, was able to execute a multi-year lease with a tenant on the same day of the closing.  By doing so, the property instantly converted from a vacant property to a income-generating fully occupied leased industrial warehouse.

"The leasing of the property happened so fast, that I had to put my vacation on hold, and quickly draft a lease agreement for the tenant to execute and sign the same day the property was purchased," said Mason Sharpe, General Counsel and Vice President of Sharpe Properties.

The Hialeah market is a very familiar place for Sharpe Properties. "Since 1960, Sharpe Properties has managed and leased commercial property from their management office located in Hialeah's industrial district," said Brian Sharpe, a Vice President of Sharpe Properties.

The new warehouse purchased by SP33 Warehouse is located along East Hialeah's busy East 10th Avenue, and features approximately 16' ceiling heights with office area and street-level roll-up garage door.

About Sharpe Properties

In the South Florida market area, covering Broward and Miami-Dade County, Sharpe Properties Group, LLC, d/b/a Sharpe Properties, handles property management and leasing of 25 commercial properties, consisting of retail, office, apartment, and industrial warehouse properties.

To view property listings of their managed commercial real estate available for lease, or for more information about Sharpe Properties, with their main office at 1060 East 33rd Street, Hialeah, Florida 33013, please visit www.sharpeproperties.com or call (305) 693-3500.