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Javier Cervera's Cervera Real Estate Ventures Acquires Miller Plaza In Miami For $18.2M

Property Image
SOLD
$18,200,000

Florida

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Retail50,000 SF
Sold 10/03/2024
the dealdetailscomps
Property Image
SOLD

Javier Cervera's Cervera Real Estate Ventures Acquires Miller Plaza In Miami For $18.2M

5801 Southwest 137th Avenue

See Similar Deals
Retail50,000 SF
Sold 10/03/2024
the dealdetailscomps

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$364
Total Square Footage:50,000 SF
Transaction Type:Sale

The property asset involved in this transaction is a retail space located at 5801 Southwest 137th Avenue in Miami, encompassing 4.5 acres with a total square footage of 50,000. The transaction was executed at a sale price of $18,200,000, resulting in a price per square foot of $364.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $18,200,000
  • Address: 5801 Southwest 137th Avenue
  • Market: Miami
  • Buyer: Javier Cervera - Cervera Real Estate Ventures
  • Seller: Diane Brant
  • Lender: US Century Bank
  • Square Footage: 50,000
  • Acres: 4.5
  • Price per Square Foot: $364

The transaction involved Javier Cervera representing Cervera Real Estate Ventures in acquiring Miller Plaza, a shopping center in Kendall, which is set for renovations to increase rent levels and attract higher-paying tenants. The plaza is currently anchored by tenants such as Firestone, 7-Eleven, and Subway.

Details

SOLD
IMAGE: Javier Cervera DATE: 10/03/2024 ADDRESS: 5801 Southwest 137th Avenue MARKET: Miami ASSET TYPE: Retail ~ ACRES: 4.5 BUYER: Javier Cervera - Cervera Real Estate Ventures SELLER: Diane Brant LENDER: US Century Bank (@USCenturyBank) SALE PRICE: $18,200,000 SF: 50,000 ~ PPSF: $364 NOTE: Javier Cervera's Cervera Real Estate Ventures (C-Rev) added Miller Plaza, a 50,000-square-foot Kendall shopping center, to its Miami-Dade portfolio for $18.2 million. The off-market deal includes plans for renovations to boost rents and attract higher-paying tenants, with the plaza anchored by tenants like Firestone, 7-Eleven, and Subway.

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