Popular on PrZen
- GLADYS Magazine Celebrates their 15 Year Anniversary! - 249
- Music Producer Debuts Riveting Miniseries About a Pro Football Superstar Embroiled in Physical Assault Scandal - 146
- Oil & Gas Workers Association Endorses Allen Mashburn for Lieutenant Governor of North Carolina - 134
- Ironside HR, No. 7 on the 2023 SMU D100 List - 113
- L.A.I. Communications Wins Prestigious Platinum MarCom Award for Excellence in Marketing and Communications - 112
- Missbuy Hair Introduction: Breathable Glueless and HD Lace Wigs - 112
- The New Way of Selling Your House! - 107
- Breaking News - New Music Release - 105
- Descendant of Sojourner Truth designs custom Space Coat !
- It's Fall Planting Season Is Here at TN Nursery
Similar on PrZen
- Lumena, A New Luxury Oceanfront Condominium Takes Flight on Florida's Space Coast
- Lawmato relaunches its virtual consultation app with enhanced features
- MiBOXER Is Exhibiting At Hong Kong International Autumn Lighting Fair
- Beck Properties Group, eXp Realty Expands Service in Southeast Indiana
- Stonely Unleashes Innovative Platform for Homeowners: Design and Order Kitchen Countertops Online with Ease!
- Devart Is the Winner of 2023 New World Report Software and Technology Award
- Unveiling a Secluded Paradise: Beachfront Home on Dog Island, Carrabelle, Florida, Goes to Auction
- SalonInteractive Launches in Square App Marketplace to Provide eCommerce, Marketing & More to Beauty Professionals
- RacquetX Announces Miami Open Experience as Excitement Builds for Landmark 2024 Event
- Sip Social Co. Partners With Omnify To Streamline User Experience Across Growing Operations
GP GLOBAL GROUP Secures $18M Sale of Shoppes at 41st Street Retail Plaza in Doral, Florida, with $11.5M CMBS Loan Assumption
PrZen/33500490
MIAMI - PrZen -- GP Global Group-Real Estate Consultants, a leading real estate brokerage firm, is pleased to announce the successful negotiation of the sale of Shoppes at 41st Street, a retail plaza located in the highly desirable area of Doral, Florida. The property features 13 tenants and spans 30,886 square feet, with two single-story buildings situated on a 2.56-acre parcel. The plaza is located on the north side of NW 41st Street (Doral Boulevard), between NW 107th Avenue to the west and NW 102nd Avenue to the east. The final sale price was finalized at $18 million, with the buyer assuming an $11.5M CMBS loan.
Representing the seller, GP Global Group's Jose Garanton, Ernesto Pentenero, and Mario Ruiz skillfully negotiated the sale of the well-located Street Center, which was highly sought after by local and foreign investors. The property is situated in a high-traffic area of the vibrant Doral with strong population demographics, and the sale is a testament to the increasing demand for supply-constrained assets of this nature.
Since acquiring the trophy asset in 2014, GP Global Group has also acted as the property and asset manager for the center, successfully keeping the vacancy rate under 2% and negotiating all existing leases, including bringing in new national tenants like T-Mobile and other well-known local brands. This re-tenanting effort has made Shoppes at 41st Street an extremely relevant and important retail center in the Doral marketplace since 2000, reflected in the plaza's 100% occupancy rate at the time of the sale. Additionally, GP Global Group successfully kept the same CAM cost throughout their years managing the property, demonstrating their proficiency in property management.
"We are thrilled to have facilitated the sale of such a prominent plaza in the heart of the City of Doral, and we are confident that the new owners are investing in an excellent asset," said Garanton. "Both the seller and buyer worked professionally and cohesively through the issues that inevitably surface during due diligence and financing for a deal of this size and profile," added Pentenero. "Our team collaborated closely with the seller to secure mutually advantageous terms for all parties involved," added Ruiz.
Pleased to be able to provide an outstanding return on this investment for their client, GP Global Group looks forward to continuing to serve the needs of its clients in the Miami area and beyond.
For more information about GP Global Group and its services, please visit http://www.gpglobalgroup.com
Representing the seller, GP Global Group's Jose Garanton, Ernesto Pentenero, and Mario Ruiz skillfully negotiated the sale of the well-located Street Center, which was highly sought after by local and foreign investors. The property is situated in a high-traffic area of the vibrant Doral with strong population demographics, and the sale is a testament to the increasing demand for supply-constrained assets of this nature.
Since acquiring the trophy asset in 2014, GP Global Group has also acted as the property and asset manager for the center, successfully keeping the vacancy rate under 2% and negotiating all existing leases, including bringing in new national tenants like T-Mobile and other well-known local brands. This re-tenanting effort has made Shoppes at 41st Street an extremely relevant and important retail center in the Doral marketplace since 2000, reflected in the plaza's 100% occupancy rate at the time of the sale. Additionally, GP Global Group successfully kept the same CAM cost throughout their years managing the property, demonstrating their proficiency in property management.
"We are thrilled to have facilitated the sale of such a prominent plaza in the heart of the City of Doral, and we are confident that the new owners are investing in an excellent asset," said Garanton. "Both the seller and buyer worked professionally and cohesively through the issues that inevitably surface during due diligence and financing for a deal of this size and profile," added Pentenero. "Our team collaborated closely with the seller to secure mutually advantageous terms for all parties involved," added Ruiz.
Pleased to be able to provide an outstanding return on this investment for their client, GP Global Group looks forward to continuing to serve the needs of its clients in the Miami area and beyond.
For more information about GP Global Group and its services, please visit http://www.gpglobalgroup.com
Source: GP Global Group - Real Estate Consultants
0 Comments
Latest on PrZen
- Lumena, A New Luxury Oceanfront Condominium Takes Flight on Florida's Space Coast
- Dogs at the Dentist: How an unlikely partnership is helping treat dental anxiety
- SSV Network selects Randamu for Distributed Key Generation (DKG) Grant Award
- Lawmato relaunches its virtual consultation app with enhanced features
- MiBOXER Is Exhibiting At Hong Kong International Autumn Lighting Fair
- Beck Properties Group, eXp Realty Expands Service in Southeast Indiana
- Stonely Unleashes Innovative Platform for Homeowners: Design and Order Kitchen Countertops Online with Ease!
- One Million Pages Read in the First Year !!
- Kingston NY-Based Ryan & Ryan Kicks Off its 65th Anniversary Dec. 6 by Underwriting a Chamber of Commerce Mixer Saluting RUPCO
- Tobu Railway's Hosts "Tokyo Downtown Tour: Bamboo Lighting."
- "Street Fighterâ„¢ 6" Panel Announced for December 2nd at Los Angeles Comic Con; The Music of Street Fighter 6: A Special Look at the Video Game
- National Minority Health Association Launches "Equity for All."
- Green Office Partner Launches Managed Print Services Program in Canada
- Vantiva Confirms its Strong Commitment to Diversity, Equity and Inclusion
- The World's No.1 Superstar Rings in 48th Birthday and 25 Years as an Entertainer
- Devart Is the Winner of 2023 New World Report Software and Technology Award
- Unveiling a Secluded Paradise: Beachfront Home on Dog Island, Carrabelle, Florida, Goes to Auction
- SalonInteractive Launches in Square App Marketplace to Provide eCommerce, Marketing & More to Beauty Professionals
- RacquetX Announces Miami Open Experience as Excitement Builds for Landmark 2024 Event
- Dominating Business Intelligence: Informer Tops the BI & Analytics Survey for the Fourth Time