A Georgia-based industrial developer, Tamarack Investments, has submitted a $10.35 million stalking horse bid on a large manufacturing warehouse in Hialeah, which is currently facing foreclosure. The property, located at 2525 W. Fourth Ave., spans over 63,570 square feet on a 2.1-acre lot and previously served as the production hub for Cuban crackers manufacturer Gilda Industries. The warehouse is now under court-ordered auction, following a legal process set by an assignment for the benefit of creditors case, which aims to liquidate assets to pay off debt.
The assignment case, filed by Estrella Enterprises in July, designated attorney Philip J. Von Kahle in Fort Lauderdale to oversee the liquidation process. The assignment allows the warehouse to be sold through a court-supervised auction. The bid from Tamarack Acquisitions LLC, managed by Grant Peterson of Tamarack Investments, will serve as the baseline offer. Any other interested parties must start their bids at $10.475 million, with bidding increments of $25,000 and a mandatory escrow deposit of $300,000.