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Courtesy: Cushman & Wakefield
Another high-profile Miami retail center has traded hands.
AD4 Group sold Plaza 8, a 53k SF, L-shaped, two-story retail center at 9600 SW 8th St to an undisclosed buyer for $11.5M, or $214/SF. The circa-1988 property includes two restaurant outparcels—including the popular Cuban eatery El Chef Ramon—and medical offices on the upper floors.
Cushman & Wakefield's Miguel Alcivar, Dominic Montazemi and Michael Mandel, along with WCL Properties' Bill Strauss, brokered the sale.
“With high barriers to entry in the immediate area, the asset...offers upside through lease-up and repositioning, including visibility improvements," Miguel says.
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