Luis M. Somoano Buys Ford Of Kendall Property In Miami For $20.25M

The Ford of Kendall dealership property in Miami-Dade, spanning 7.4 acres and featuring a retail asset, was sold for $20.25 million. The property, located at 15555 South Dixie Highway in Miami, encompasses a total of 68,225 square feet with a price per square foot of $297.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $20,250,000
• Address: 15555 South Dixie Highway
• Market: Miami
• Buyer: Luis M. Somoano
• Seller: Gus Machado Ford of Kendall LLC - Lilliam Machado & Myra Dewhurst

The property, previously owned by the late auto dealer Gus Machado's family, has been acquired by Luis M. Somoano. The sale price of $20.25 million reflects an appreciation in value from its previous sale at $13.6 million in 2009.