Volta Global has obtained a $17.35 million acquisition loan for Westland Plaza, a mixed-use retail and self-storage property in Hialeah, Florida. The center totals 110,000 square feet and combines multi-tenant street retail with a dedicated self-storage component, positioning the asset as a hybrid income stream within a single site.
JLL represented Volta Global in arranging the acquisition financing. The JLL Capital Markets Debt Advisory team secured a two-year, floating-rate loan from Shelter Growth Capital Partners. The short-term structure provides Volta Global with flexibility as it executes its investment strategy at the property while the surrounding area continues to evolve.
Originally built in 1979 and renovated in 2008, Westland Plaza comprises 50,000 square feet of retail spread across three separate buildings, alongside a 60,000-square-foot, three-story self-storage facility. The mix of uses allows the center to draw from both traditional retail demand and storage users, diversifying the income profile within a single location.
The retail portion of Westland Plaza is tenanted by a group of national and regional brands. Notable occupants include Office Depot, Sherwin-Williams, Avis Budget and American Dollar Pharmacy, providing a blend of office supplies, paint and coatings, vehicle rental and neighborhood pharmacy services. These tenants help anchor the property and support consistent traffic to the site.
Westland Plaza is located at 5301-5315 W 20th Ave in Hialeah, immediately east of the Palmetto Expressway. The property benefits from direct and nearby connectivity to several major regional routes, including I-75, I-95 and the Florida Turnpike, enhancing its accessibility for both retail shoppers and self-storage customers across the broader area.
The asset also sits adjacent to a significant redevelopment project. Next door, Codina Partners is transforming the south-adjacent Westland Mall into a mixed-use community planned for more than 800 residential units. That project is expected to shift the immediate surroundings toward a more residentially oriented mixed-use environment, with Westland Plaza positioned nearby as an established retail and self-storage hub.
JLL’s Capital Markets Debt Advisory team on the financing was led by Michael DiCosimo, Joshua Odessky and Miguel Pedersen. Their mandate encompassed sourcing and structuring the two-year floating-rate acquisition loan on behalf of Volta Global through Shelter Growth Capital Partners.
