Javier Cervera Of Cervera Real Estate Ventures Acquires Retail Center In Hialeah For $17M

The property asset involved in this transaction is the Twin Towers Shopping Center located at 4516 West 12th Avenue, Hialeah, FL. This retail asset spans 2.9 acres and encompasses a total of 36,575 square feet. The property was sold for $17 million, equating to a price per square foot of $465. The transaction reflects a focus on established, income-producing neighborhood centers in the South Florida market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $17,000,000
• Address: 4516 West 12th Avenue
• Market: Hialeah, FL
• Asset Size: 36,575 SF
• Price per Square Foot: $465
• Buyer: Javier Cervera - Cervera Real Estate Ventures
• Seller: Maurice Cayon - CD Group
• Brokers: Drew Kristol & Kirk Olson - Marcus & Millichap
• Lender: US Century Bank
• Loan Amount: U.S. Century Bank loan at 50% LTV
• Cap Rate: sub-6%

The transaction involved key individuals including Javier Cervera representing Cervera Real Estate Ventures, which acquired the center anchored by Las Mercedes Medical Center. The sellers were represented by Maurice Cayon from CD Group. The brokerage services were provided by Drew Kristol and Kirk Olson from Marcus & Millichap, facilitating the details of this substantial sale.