Dive Brief:
- Sunshine Gasoline Distributors acquired an industrial warehouse in Hialeah, Florida, for $18.2 million earlier this month, according to commercial real estate database Traded.
- Sunshine bought the warehouse from Petroleum Equipment and Manufacturing Company (PEMCO), a full-service gas station equipment manufacturer based in Hialeah, according to Traded. The warehouse is about 50,000 square feet and sits on 2.7 acres. It’s located roughly 20 miles northwest of downtown Miami.
- Sunshine, which operates over 400 convenience stores in Florida, has about 13 locations in Hialeah, according to its website. Representatives from the c-store retailer did not respond by press time when asked for details on the acquisition.
Dive Insight:
Sunshine’s new facility is located within minutes of several of its Shell, Chevron and Exxon-branded convenience stores in Hialeah.
Miami-Dade county records show that the property — built in 1982 — is zoned for light manufacturing and food processing. Records also note that the warehouse had previously been sold for $1.8 million in 1990 and $1.5 million in 1992.
While it’s unclear what Sunshine intends to use its new warehouse space for, other c-store retailers such as Sheetz and Weigel’s have recently tapped large-scale facilities for food preparation and distribution purposes.
Traded’s report notes that Maximo Alvarez, founder, owner and president of Sunshine, was the official buyer.
The seller, PEMCO, manufactures service station valves, environmental accessories, above-ground tank fittings, hose retrievers, island forms, pipe guards, pump boxes and trash enclosure doors, according to its website. Its products are offered through a network of more than 500 distributors in the U.S. and abroad.
A representative from PEMCO declined to comment on the sale.
Doral, Florida-based Sunshine Gasoline Distributors, founded in 1987, supplies gas to over 500 stations in Florida, and owns roughly 400 of those.
