Roy Faith, principal at FIP Realty Services, LLC (pictured below right), and Dave Colonna, Broker Associate with the firm (pictured below left), arranged the sale of a Miramar, Florida shopping center for $14,600.000.
Miramar Parkway Plaza includes three retail buildings, a McDonald’s restaurant and a 2.1-acre property with development potential. AutoZone and Winn Dixie anchor the center.
Faith and Colonna represented the Buyer, Aventura-based Miramar Plaza Partners, in the acquisition of the plaza, located at 3102, 3190, 3306 and 3356 South University Drive.
The deal closed on March 28, 2014.
The seller, FirstBank Puerto Rico, was represented by RT Realty, which also served as manager for the Bank of Puerto Rico. FirstBank took title to the center through foreclosure in September 2013. The bank gave the buyer a $10.2 million loan as part of the transaction.
“This property had been entangled in the courts, both bankruptcy and foreclosure, for the past few years. Through perseverance and patience, we were able to get this deal closed,” stated Colonna.
FIP Realty has been retained to lease and manage the center for the new ownership.
About FIP Realty Services, LLC: FIP Realty offers a full service commercial real estate service, providing leasing and management for most commercial real estate sectors including retail plazas, office buildings, and multifamily complexes. We have a team of profession real estate professionals in Miami and serve from West Palm Beach to Miami. Located With locations in Aventura, Hallandale Beach and Wynwood, Florida, FIP has a strong presence in the surrounding area, offering service from West Palm Beach to Miami. For more information, please call 305.682.4991 or visit www.commercial.fiprealty.
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