Marcos Puente And Gabriel Navarro Acquire Retail Property In Cutler Bay For $12M

Two adjacent retail properties located at 19700 & 19401 South Dixie Highway in Cutler Bay, with a total square footage of 49,020, were recently sold for $12,000,000 at a price per square foot of $245.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $12,000,000
• Buyer: Marcos Puente and Gabriel Navarro, MMG Equity Partners
• Seller: Not disclosed
• Broker: Donald Shapiro - Compass
• Market: Cutler Bay
• Asset Type: Retail

The buyers, Marcos Puente and Gabriel Navarro of MMG Equity Partners, have acquired their 7th strip center in Miami Dade and Broward county over the past four years. They expressed interest in purchasing seven more unanchored strip centers, each over 40,000 square feet, throughout Miami and Broward.