 |
| Achikam Yogev |
MIAMI,
Fla. (July 14, 2015) – A retail center in a densely populated and industrial
area of Miami has sold for $1.15 million.
The 12,182-square-foot property, at
4401 SW 74th Ave., was in foreclosure and sold for below replacement value at
$94 per square foot.
The
seller, 4401 SW 74th Ave, LLC, was represented by Achikam Yogev, Senior Vice President with Colliers International
South Florida based out of the company’s Miami office. The buyer, MST
Corporation, was self-represented.
The
retail center, located near the Palmetto Expressway on the corner of SW 74th
Avenue and SW 42nd Street, is fully leased and includes the popular La Bamba
Restaurant, a local check cashing company and an auto mechanic.
“With
this retail center being fully leased and in a high-traffic area, it was a
value purchase at below replacement value,” said Colliers’ Yogev. “In fact, we
are still continuing to see REO properties on the market as more lenders are
shedding their assets.”
The
property was on the market for about a year and had environmental challenges
that the buyer and seller were able to remedy.
For a complete copy of the company’s news release,
please contact:
Leah
Saunders
Senior
Account Executive
B2
Communications
p
727.895.5030 x104 | c 813.924.0367
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