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

Connecticut investor Drew DeWitt of East Capital Partners has acquired the Milpa Center and Wesley Center, two office/industrial flex buildings near Doral, Miami-Dade. The transaction took place for a price of $39,000,000. The complex spans over 7.66 acres and includes a total of 196,268 square feet of space. The property, located at 7500 Northwest 70th Street & 6801 Northwest 77th Avenue, features both office and industrial spaces. It was originally developed in 1981 and 1982 and has experienced an increase in value since its last sale in 2017 for $15.6 million.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $39,000,000
• Market: Miami
• Address: 7500 Northwest 70th Street & 6801 Northwest 77th Avenue
• Acres: 7.66
• Square Footage: 196,268
• Buyer: Drew DeWitt - East Capital Partners
• Seller: Mario A Fernandez - Cofe Properties
• Lender: A10 Capital
• Price Per Square Foot: $199

Connecticut investor Drew DeWitt, representing East Capital Partners, made this significant acquisition through Miami Palmetto Property LLC. The seller was Mario A Fernandez, who was represented by Cofe Properties. The lender in the transaction was A10 Capital. It is noteworthy that the property's recent sale has resulted in a substantial increase in its value.