VENDEN CENTRO COMERCIAL HIDDEN LAKE POR $26M

/in /by

MEDIA CONTACT:

Leonardo Morales
lmorales@diariolasamericas.com

Full Article

 

MIAMI – January 25, 2022 – Shoppes at Hidden Lake cuenta con espacios comerciales y para oficinas en dos plantas en la 127th Avenida del suroeste y la 128th St, en Kendall

“Esta oferta presentó a los inversores la oportunidad de adquirir un centro comercial recién construido y estable, con potencial de crecimiento”, dijo Cary Cohen, vicepresidente ejecutivo de Blanca Commercial Real Estate, la firma que gestionó la venta.

“El interés mundial por los activos inmobiliarios comerciales del sur de Florida siempre ha sido importante. Sin embargo, esta época de pandemia ha traído una cantidad sin precedentes de interés de los compradores nacionales que buscan colocar el capital en toda la región del sur de la Florida”, argumentó Cohen.

Blanca CRE es una de las principales empresas de servicios inmobiliarios comerciales de propiedad independiente en el sur de Florida y servicios de asesoramiento a los propietarios y usuarios de bienes raíces comerciales. Para más información, puede visitar blancacre.com.

Shoppes at Hidden Lake cuenta con espacios comerciales y para oficinas en la segunda planta, se encuentra rentado en un 96% de su capacidad y abarca un área de 62.744 pies cuadrados distribuidos en dos edificios. La propiedad se encuentra ubicada en la esquina de la 127th Avenida del suroeste y la 128th St, Kendall.

La propiedad también ofrece una gran proximidad a las zonas residenciales, incluyendo Country Walk, los cruces, Deerwood y los Hammocks, y está a pocos minutos del Aeropuerto Ejecutivo de Miami, con accesibilidad a los principales sistemas de transporte.

Desde su creación en 2009, Blanca CRE sigue destacándose por ofrecer un valor distintivo al cliente a través de un enfoque personalizado, una metodología única, una visión basada en estadísticas, amplia red y un profundo compromiso con la comunidad.

Las áreas de práctica incluyen la representación de los propietarios, la gestión de la propiedad, la consultoría de desarrollo, la representación de los inquilinos, los servicios de la comunidad de inquilinos, asesoramiento de construcción y la adquisición y disponibilidad de la propiedad de la tierra e inversiones.

Los informes trimestrales de mercado de Blanca son considerados como la referencia para muchos profesionales del sector inmobiliario. El esperado informe de mercado del cuarto trimestre del 2021 se publicará a finales de enero de 2022. Para más información, visite blancacre.com.

About Blanca Commercial Real Estate

Blanca Commercial Real Estate, the leading independently owned commercial real estate brokerage firm in Florida, provides a complete range of brokerage and advisory services to owners and users of commercial real estate. Established in 2009, the firm is noted for delivering distinct client value through a personalized approach, unique methodology, data-driven insight, vast network and deep community engagement. Practice areas include landlord representation, property management, development consulting, tenant representation, tenant community services, build-to-suit advisory services, and land/investment property acquisition and disposition. For more information, visit blancacre.com.

ADRIAN BUILDERS SELLS MIAMI-DADE RETAIL CENTER FOR $26M

/in /by

MEDIA CONTACT:

Brian Bandell

Full Article

 

MIAMI – January 21, 2022 – An affiliate of Miami-based Adrian Builders sold a retail center in the Tamiami neighborhood of southern Miami-Dade County for $26 million. The Shoppes at Hidden Lake LLLP, managed by Alvaro L. Adrian of Adrian Builders, sold the 81,680-square-foot property at 12700 and 12750 S.W. 128th St. The buyers were Palms Petroleum LLC, Palmetto Eastar Energy Petroleum LLC, Westar SC Holdings LLC, Palmetto Westar Energy Petroleum LLC, Southpoint Petroleum LLC and 27-141 Petroleum LLC, all managed by Tomas Pequeno in Miami. Cary Cohen of Blanca Commercial Real Estate represented the seller in the deal. The six LLCs each sold separate gas stations in Miami-Dade two weeks ago to Wilmington Delaware-based Trinity Petro. It appears they reinvested the proceeds of those sales into this retail center.

The price for this deal equated to $318 a square foot, showing there is still demand for retail property in Miami-Dade, as it holds up relatively well against competition from e-commerce. The shopping center’s tenants are mostly local businesses, including a barber shop, coffee bar, tobacco shop, sports bar and medical center. Cohen said the property is 96% leased. “This offering presented investors the rare opportunity to acquire an immaculate, newly constructed stabilized shopping center with upside potential,” Cohen said. “Assets like Hidden Lakes are highly sought after. We were able to close within 45 days of listing it.” The two-story project was built on the 4.26-acre site in 2018 and 2020.

About Blanca Commercial Real Estate

Blanca Commercial Real Estate, the leading independently owned commercial real estate brokerage firm in Florida, provides a complete range of brokerage and advisory services to owners and users of commercial real estate. Established in 2009, the firm is noted for delivering distinct client value through a personalized approach, unique methodology, data-driven insight, vast network and deep community engagement. Practice areas include landlord representation, property management, development consulting, tenant representation, tenant community services, build-to-suit advisory services, and land/investment property acquisition and disposition. For more information, visit blancacre.com.

FILL’ER UP ON RETAIL: GAS STATION INVESTOR BUYS KENDALL SHOPPING PLAZA FOR $26M

/in /by

MEDIA CONTACT:

Francisco Alvarado

Full Article

 

MIAMI – January 19, 2022 – A gas station investor is now fueling up on retail by acquiring a two-building shopping plaza in Kendall for $26 million.

Miami-based Westar Oil Company bought Shoppes At Hidden Lake at 12700 Southwest 128th Street in Miami-Dade County, according to Margot Chamot, a broker who was involved in the sale.

Adrian Builders, a Kendall-based commercial real estate firm founded by principal Alvaro Adrian, sold the 66,000-square-foot retail center. In 2017, Adrian Builders bought the 4.5-acre property for $3.3 million and completed the two two-story buildings a year later, according to records.

Chomat, of County Line Realty, told The Real Deal that Shoppes At Hidden Lake is 99 percent leased, with only two vacant retail spaces. Tenants include Ultimate Medical Center & Spa, Magic City Perks coffee shop, Rinconcito Miami #5 restaurant, U Beauty Bar and Backdoor Miami consignment shop.

“The buyer was looking for mom-and-pop shopping centers,” Chomat said. “We drove by some properties and came across this one. I called Alvaro Adrian. We negotiated right then and there, and two days later, we were under contract.”

Cary Cohen of Blanca Commercial Real Estate represented the seller.

Westar Oil Company is owned by Thomas Pequeno, according to state corporate records. Chomat said Westar owns several Westar gas stations in South Florida.

Open-air shopping centers are becoming hot real estate assets in South Florida. Earlier this month, Dallas-based Spectrum Properties bought a Doral shopping center anchored by an Aldi for $22.1 million, and Wharton Realty Group dropped $82 million for a fully leased shopping center in Homestead.

Last month, MMG Equity Partners paid $17 million for Plantation Community Plaza, a shopping center in Plantation; AEW Capital Management bought the fully leased Shops at Beacon Lakes near Dolphin Mall for $108 million; and Germany’s Union Investment picked up a Publix-anchored, fully leased shopping center in Boynton Beach for $79.5 million.

About Blanca Commercial Real Estate

Blanca Commercial Real Estate, the leading independently owned commercial real estate brokerage firm in Florida, provides a complete range of brokerage and advisory services to owners and users of commercial real estate. Established in 2009, the firm is noted for delivering distinct client value through a personalized approach, unique methodology, data-driven insight, vast network and deep community engagement. Practice areas include landlord representation, property management, development consulting, tenant representation, tenant community services, build-to-suit advisory services, and land/investment property acquisition and disposition. For more information, visit blancacre.com.

CRE PROJECTS GETTING TRIPPED UP BY SUPPLY CHAIN WOES

/in /by

MEDIA CONTACT:

Erik Sherman

Full Article

 

MIAMI – January 21, 2022 – Dwight D. Dunton III, founder and CEO of Bonaventure Holdings, drove up to one of his company’s construction sites in the fall. “The buildings all looked like giant checker boards: some siding here and some siding there,” he tells GlobeSt.com. The subcontractor was installing siding as the supplier could deliver it.

While the Wall Street Journal recently wrote about how supply chain issues are affecting new homes, the problem stretches across commercial real estate projects.

A renovation of a bank space into a furniture showroom by interior design and architecture firm, Leslie Saul & Associates has seen a big delay because linear diffuser boxes weren’t available. “They finally arrived last week, but almost two months after the original due date,” Saul tells GlobeSt.com. “The store was supposed to open by Christmas, and instead it may be the end of February.”

Nareit senior economist Calvin Schnure sees two problems supply chains have imposed on CRE building. “One is the cost that might make a developer think this might be a project that isn’t doing,” he says. The other thing is lack of availability in needed quantities. “We are seeing delays and real difficulty in getting requirements at every step in the chain.” That includes raw materials, finished products, transportation, and labor.

“Commercial real estate is impacted like the rest of the world, with logistic delays prolonging lead times on the construction front, in addition to delays on the architectural and engineering front as well,” Randy Carballo, executive vice president of Blanca Commercial Real Estate, tells GlobeSt.com. Office space needs under 10,000 square feet used to take six months. Now it’s eight to ten.

Firms try to manage. “We are ordering materials far in advance,” says Pete Tuffo, president for the south region of Suffolk Construction. “However, since the majority of projects do not have sufficient laydown area to store materials, Suffolk works with clients to rent nearby warehouse space.”

“In my area of New Jersey and Pennsylvania, there seems to be very little non-medical commercial new construction,” offers real estate attorney Bonnie Galam. “It’s largely repurposing existing commercial structures. This alleviates the need for some building materials like lumber, but commercial developers are still facing the increase in prices on items like windows and drywall.”

“Our latest building products survey showed that the supply chain remains quite stretched, with no indication that conditions are improving,” says Ivy Zelman, CEO of Zelman & Associates, with 88% of respondents seeing lead times that were “modestly or well above normal.”

The impacts lead to tensions and legal strife. “Owners-landlords and development and construction experts are trying to avoid deadline clauses, even as tenants are pushing for them,” Andy Gutman, president of full-service commercial real estate firm Farbman Group, tells GlobeSt.com. “In response, some developers are starting to insert clauses into their contracts to say they aren’t responsible for any delays or disruptions because of the current supply chain issues.”

For those who hoped that the new year would bring a quick end to the pain, there’s disappointment.

“It may be into next year to see the ability to do non-residential construction unhindered,” adds Nareit’s Schnure.

About Blanca Commercial Real Estate

Blanca Commercial Real Estate, the leading independently owned commercial real estate brokerage firm in Florida, provides a complete range of brokerage and advisory services to owners and users of commercial real estate. Established in 2009, the firm is noted for delivering distinct client value through a personalized approach, unique methodology, data-driven insight, vast network and deep community engagement. Practice areas include landlord representation, property management, development consulting, tenant representation, tenant community services, build-to-suit advisory services, and land/investment property acquisition and disposition. For more information, visit blancacre.com.