Luis M. Somoano Of Ford Of Hialeah LLC Acquires Retail Property From Victor Benitez For $21M

The property involved in this transaction is located at 1200 West 49th Street in Hialeah. This retail asset covers an area of 5.7 acres and encompasses 52,392 square feet. The transaction was executed for a sale price of $21,000,000, reflecting a price per square foot of $401.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $21,000,000
• Address: 1200 West 49th Street
• Market: Hialeah
• Acres: 5.7
• Square Footage: 52,392
• Price per Square Foot: $401
• Buyer: Luis M. Somoano - Ford of Hialeah LLC
• Seller: Victor Benitez - Gus Machado Ford
• Lender: City National Bank of Florida

Ford of Hialeah LLC, under the leadership of Luis M. Somoano, acquired the dealership property from Verium Investments LLC, which was managed by Victor Benitez. The property was previously associated with the late Gus Machado and involved an assumption of a $15.01 million mortgage from City National Bank of Florida.