Mallorca Group Acquires Shoppes Of Lexi Retail Center In North Bay Village For $7.85M

The property asset involved in this transaction is a retail center located at 7901 Hispanola Avenue, North Bay Village, FL. The asset, known as Shoppes of Lexi, encompasses a total of 19,859 square feet and was sold for $7,850,000, resulting in a price per square foot of $395 within the North Bay Village market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,850,000
• Square Footage: 19,859 SF
• Price Per Square Foot: $395
• Buyer: Mallorca Group
• Seller: Lexi Commons
• Seller's Representative: Christian Arrabal - AdviseCRE; Nelson Garcia - RARE CRE

This transaction was facilitated by brokers Christian Arrabal and Nelson Garcia, who represented the Seller in this off-market transaction. They successfully delivered an efficient disposition process for the property.