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Blanca CRE Facilitates $26M Sale of Miami Shops amid Domestic Interest Surge
Blanca Commercial Real Estate has completed the sale of Shoppes at Hidden Lake in Miami for $26 million. Cary Cohen, EVP of Blanca Commercial Real Estate, represented the seller, the Shoppes at Hidden Lake, LLP, and procured the buyer, a 1031 exchange investor.
According to Cary Cohen, the property offered a value-added opportunity with the ability to increase rents despite being 96% leased, and the deal closed within 45 days of list.
“Global interest in South Florida’s commercial real estate assets has always been significant,” said Cohen. “This pandemic era, however, has brought an unprecedented amount of interest from domestic buyers seeking to place capital throughout the South Florida region.”
The 62,744-square-foot Class A retail property features two buildings with lake views and 279 parking spaces. The property’s on 128th Street in Kendall offers proximity to residential neighborhoods Country Walk, the Crossings, Deerwood and the Hammocks and is five minutes from Miami Executive Airport.
- ◦Sale/Acquisition
