Rodrigo Ignacio Guerrero Falcon Of Mallorca Group Acquires Retail Property In North Bay Village For $7.85M

A retail property located at 1700 Kennedy Causeway in North Bay Village has been sold for $7,850,000. The asset spans 22,447 square feet, resulting in a price per square foot of $350.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $7,850,000
• Buyer: Rodrigo Ignacio Guerrero Falcon - Mallorca Group
• Seller: Val Zevel - Lexi Commons
• Broker: Nelson Garcia - RARE CRE
• Lender: Terrabank
• Loan Amount: $4,000,000
• Loan Maturity: January 2035

The transaction was facilitated by Nelson Garcia of RARE CRE, who represented the buyer, Mallorca Group. This purchase was financed through a loan from Terrabank, which has a maturity date set for January 2035.