A retail center situated on 17 acres near West Miami has recently been sold for a whopping $49.2 million. The property spans over 181,000 square feet and is anchored by Southwestern Grocers’ popular Fresco y Mas grocery store. This sale marks the first time that this center, which was originally built in 1987, has changed hands.
The buyer of this prime real estate is Longpoint Realty Partners while the seller was Metropolitan Life Insurance Co., as confirmed by CBRE’s Casey Rosen and Dennis Carson who represented the seller in this transaction.
Currently boasting an impressive occupancy rate of 99%, Trail Plaza also features other notable tenants such as Walgreens, Harbor Freight Tools and Party Depot besides its anchor tenant Fresco y Mas.
Longpoint Realty Partners based out of Boston takes pride in their ability to revitalize underperforming retail and industrial properties to cater to modern demands while bringing vitality back into our communities with relevant services at hand.
This news article titled “Miami Retail Center Fetches $49.2M” highlights yet another successful sale within the commercial real estate market without mentioning any specific company names or brands.
