Ari Real Estate Acquires Retail Asset At Paraiso Plaza II In Hialeah For $16M

The property asset involved in this transaction is a retail space located at Paraiso Plaza II, specifically at 3300-3320 W 84th St, Hialeah, FL. The transaction was finalized for a sale price of $16,000,000, encompassing a total square footage of 34,013. The price per square foot is reported to be $470, highlighting the market dynamics in Hialeah.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $16,000,000
• Buyer: Ari Real Estate
• Seller: CMG Properties
• Brokers: Justin Walker & Dylan Morse - Franklin Street
• Market: Hialeah
• SF: 34,013
• PPSF: $470

This transaction involved Franklin Street's South Florida Retail Team, who received 15 offers within a 27-day marketing period, successfully selling the property at the asking price with hard money secured on the first day.