East Capital Partners and Vlietco Enterprises sold a recently completed Hialeah warehouse and 15 undeveloped acres near Homestead for $52.8 million.
An affiliate of Martinez Distributors, a family run Hialeah-based food processing and distribution company, bought Countyline East Logistics Center at 163000 Northwest 97th Avenue in Hialeah, records and real estate database Vizzda show. The 165,229-square-foot warehouse with nearly 6,000 square feet of office space sits on 9.4 acres.
The deal also included the vacant land, which is outside Miami-Dade County’s boundary for residential and commercial development.
The buyer obtained a cross-collaterized loan of $62 million from Popular Bank. The debt is also secured by a 64,774-square-foot warehouse in Miami owned by Martinez Distributors, mortgage documents show.
CBRE’s Devin White and David Albert represented Darien, Connecticut-based East Capital, led by David Archibald and Drew DeWitt; and Santa Monica, California-based Vlietco, led by Klaas Vlietstra, a press release states. CBRE said Martinez Distributors will occupy the industrial building.
Founded in 1997, Martinez Distributors provides food services to restaurants, hotels, supermarkets and cafeterias, the firm’s website states. Company president Fabian Martinez did not respond to requests for comment.
A Vlietco affiliate bought the sites in Hialeah and near Homestead for $12.9 million in 2022 and $1.3 million in 2023, respectively, records show. Last year, Vlietco entered into a joint venture with East Capital. Countyline East Logistics Center was completed earlier this year, the release states.
East Capital, a firm that’s invested $7.4 billion in commercial real estate across the country, according to its website, has been very active in South Florida’s industrial market since last year. Last month, East Capital dropped $90 million for three Miami-Dade warehouses. Blackstone and its subsidiary Link Logistics sold the properties. East Capital also owns an Aventura warehouse complex purchased for $48 million in October, and bought eight warehouses and a storage yard near Medley for $17.5 million in May of last year. Also in 2024, East Capital and Baltimore, Maryland-based ABR Capital acquired a Medley mixed-use office and industrial complex for $38.5 million.
