Victor Benitez Of Verium Investments LLC Acquires Hialeah Ford Dealership From Machado Trust For $19.35M

The commercial property located at 1200 West 49th Street in Hialeah spans 5.7 acres and encompasses a total square footage of 52,392. The transaction price for this asset was $19,350,000, translating to a price per square foot of $369.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $19,350,000
• Buyer: Victor Benitez - Verium Investments LLC
• Seller: Lilliam Machado & Myra Dewhurst - The Gus Machado Revocable Trust
• Lender: National Bank of Florida
• Mortgage Amount: $15,480,000
• Year Benitez became majority owner of Gus Machado Ford: 2023

The Machado family completed the sale of the property, which formerly housed their Hialeah Ford dealership, to Victor Benitez. Additionally, Benitez signed a lease for the property as part of the transaction.