MIAMI—A warehouse property in Hialeah's Leah Art District just traded hands. The sale price: $3 million, which is a record.
SVN Commercial Realty's Joel A. Kattan and Anthony Peragine represented the seller, 1395 E 11 Ave. Unbranded Brewing Co acquired the industrial asset.
Located at 1395 East 11th Street, the industrial property is in the heart of the newly-minted Leah Art District, which runs from East Ninth Street to East 17th Street, south to north and East Tenth Avenue to the west. Unbranded plans to develop the 31,000-square-foot warehouse into a craft brewery production facility.
“We chose the Leah Art District because we saw a unique opportunity to ally ourselves with an up-and-coming neighborhood that defines itself through its distinct history and close-knit community, and are excited to explore this area with our fellow mavericks,” Zachary Swanson, president of Unbranded, tells GlobeSt.com. The facility will be the first of its kind in Hialeah.
“Our mission is to create unique and interesting craft beers which do not adhere to typical style guidelines, ” says Swanson. “Each and every beer we produce will stretch the limitations of qualification and endeavor to rebel against the norms of beer society, much like my ancestor, Samuel Maverick.”
The off-market deal obtained a recording breaking $96 per square foot price, which Kattan tells GlobeSt.com may seems high for the area. “ However, he says, “I anticipate these types of deals will become more and more common as this property sits in the heart of the Leah Art District.”
According to Kattan, other factors to keep in mind include the fact that it was an off-market deal and the industrial asset was sold to a buyer that is not a typical warehouse use. “Ultimately, he says, “I consider Unbranded Brewing a pioneer in the changing landscape of this area.”
MIAMI—A warehouse property in Hialeah's Leah Art District just traded hands. The sale price: $3 million, which is a record.
SVN Commercial Realty's Joel A. Kattan and Anthony Peragine represented the seller, 1395 E 11 Ave. Unbranded Brewing Co acquired the industrial asset.
Located at 1395 East 11th Street, the industrial property is in the heart of the newly-minted Leah Art District, which runs from East Ninth Street to East 17th Street, south to north and East Tenth Avenue to the west. Unbranded plans to develop the 31,000-square-foot warehouse into a craft brewery production facility.
“We chose the Leah Art District because we saw a unique opportunity to ally ourselves with an up-and-coming neighborhood that defines itself through its distinct history and close-knit community, and are excited to explore this area with our fellow mavericks,” Zachary Swanson, president of Unbranded, tells GlobeSt.com. The facility will be the first of its kind in Hialeah.
“Our mission is to create unique and interesting craft beers which do not adhere to typical style guidelines, ” says Swanson. “Each and every beer we produce will stretch the limitations of qualification and endeavor to rebel against the norms of beer society, much like my ancestor, Samuel Maverick.”
The off-market deal obtained a recording breaking $96 per square foot price, which Kattan tells GlobeSt.com may seems high for the area. “ However, he says, “I anticipate these types of deals will become more and more common as this property sits in the heart of the Leah Art District.”
According to Kattan, other factors to keep in mind include the fact that it was an off-market deal and the industrial asset was sold to a buyer that is not a typical warehouse use. “Ultimately, he says, “I consider Unbranded Brewing a pioneer in the changing landscape of this area.”
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