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| Drew A. Kristol |
HIALEAH, FL
– Marcus & Millichap (NYSE: MMI), a leading commercial real estate
investment services firm with offices throughout the United States and Canada,
has arranged the sale of the Ready
Shopping Center, a 60,938-square-foot, two-story shopping center in
Hialeah, Fla.
The $11 million sales price equates to $181 per square foot.
Drew A. Kristol and Kirk D.
Olson, vice presidents investments in Marcus & Millichap’s Miami
office, represented the seller, a Hialeah-based limited partnership. Adrian Gonzalez, of Miami Gables
Realty, represented the buyer, a private investment group based in Miami.
“This
multi-tenant retail asset is located on the corner of two of Hialeah’s most
heavily travelled corridors, West 12th Avenue and West 37th Street,” says
Olson. “The buyer had been targeting this area of West Hialeah as a strategic
acquisitions submarket due to its strong population density and high traffic
counts.”
The property
is a two-story shopping center composed primarily of small, local tenants and
was 91 percent occupied at the time of the sale. AutoZone and Region’s Bank,
which were not a part of the offering, are outparcels to the center. Other
retailers in the immediate area include Sedano’s, Navarro Discount Pharmacy, Chevron,
Shell and Jiffy Lube.
For a complete copy of the company’s
news release, please contact:
Gina Relva
Public
Relations Manager
(925)
953-1716