CORAL GABLES, FL – CREC (Continental Real Estate Companies), a leading full-service commercial real estate firm, today announced the $5.25 million sale of Perrine Food Shopping Center, (top right photo) a 42,300-square-foot, shopping center in north Miami-Dade.“Within 2 months, we were able to identify a qualified buyer, favorable financing and close despite this challenging market.” Said Harry Blyden, CREC senior vice president.
“While Florida’s retail market has slowed, there is still considerable investor interest in well-situated, grocery anchored projects like Perrine Food Shopping Center,” said CREC retail broker and principal, Alan Esquenazi, who with Blyden, represented the seller, Perrine Food Retail Corp, in the transaction.
The buyer, 11800 NW 10th Ave, LLC., paid $124 per square foot for the 2.94-acre property, which is located at the southwest corner of NW 119th Street and 10th Avenue just west of Interstate 95.
The retail center is anchored by Food City Supermarket (bottom left photo), a local independent grocer occupying 22,292 square feet on a long-term lease. “Perrine Food Shopping Center is 100 percent occupied by quality local tenants that serve the surrounding neighborhood,” s
aid Blyden.
The retail center is anchored by Food City Supermarket (bottom left photo), a local independent grocer occupying 22,292 square feet on a long-term lease. “Perrine Food Shopping Center is 100 percent occupied by quality local tenants that serve the surrounding neighborhood,” s
aid Blyden.With offices in Miami, Orlando and Jacksonville, CREC provides fully integrated real estate services, including management and leasing, workout solutions, , debt/equity financing, brokerage, tenant representation, and construction supervision.
Through an extensive nationwide network in the debt and capital markets, CREC also assists clients and partners with their investment strategies.
Founded in 1989 by Chairman Warren P. Weiser and President Carol G. Brooks, CREC today is one of Florida’s largest commercial firms, managing a portfolio of more than 70 office and retail properties totaling 10 million square feet. For more information, visit http://www.crec.com/.
Founded in 1989 by Chairman Warren P. Weiser and President Carol G. Brooks, CREC today is one of Florida’s largest commercial firms, managing a portfolio of more than 70 office and retail properties totaling 10 million square feet. For more information, visit http://www.crec.com/.
CONTACT: LRosario@crec.com
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