Gabriel Navarro & Marcos Puente Of MMG Equity Partners Acquire Development Site In Kendall For $35.81M

The property involved in this transaction is a development site located at 162nd Avenue and Kendall Drive in the Miami market. This site encompasses a total buildable square footage of 35,810 and a total square footage of 223,898. The transaction is part of a larger mixed-use development known as Kendall Town Center, spanning 70 acres.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: Not specified
• Buyer: Gabriel Navarro & Marcos Puente - MMG Equity Partners
• Seller: Edward Schmidt & Robert Eckstein - NAI Miami
• Development Plans: The Shops at Kendall Town Center, a 36,000 SF retail destination with 4,321 square feet of outdoor terrace space
• Project Components: Primarily food and beverage offerings, with approximately half of the space dedicated to restaurants
• Current Status: Under contract; plans submitted to Miami-Dade County for administrative site plan approval
• Expected Closing: By the end of 2026
• Construction Anticipation: Begin in the first quarter of 2027

In this transaction, the buyer, MMG Equity Partners, is negotiating letters of intent and leases with prospective tenants while aiming to enhance the property with quality retail offerings. The project is strategically positioned as the central hub of the broader Kendall Town Center master plan, featuring an open-air courtyard and a curated garden that promotes community gathering and connectivity within the development.