Drew DeWitt's East Capital Partners Acquires Milpa Center & Wesley Center In Miami For $39M

The property involved in the transaction is located at 7500 Northwest 70th Street and 6801 Northwest 77th Avenue in Miami. This industrial asset spans 7.66 acres and has a sale price of $39,000,000. The total square footage of the property is 196,268, with a price per square foot of $199.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $39,000,000
• Buyer: Drew DeWitt - East Capital Partners
• Seller: Mario A Fernandez - Cofe Properties
• Lender: A10 Capital
• Previous Sale Amount: $15,600,000 in 2017
• Property Development Years: 1981 and 1982

Drew DeWitt, representing East Capital Partners, acquired the property through Miami Palmetto Property LLC. The seller, Mario A Fernandez, is affiliated with Cofe Properties. The transaction included the Milpa Center and Wesley Center, which are classified as office/industrial flex buildings situated near Doral in Miami-Dade.