Arena Capital sells two retail buildings in Hialeah

Amanda Rabines | April 5, 2018

Miami-based Arena Capital just sold two of its retail buildings in Hialeah for a total of $7.65 million.

The retail buildings at 990 and 970 West 49th Street are adjacent to each other and span a total of 9,700 square feet – meaning the trade breaks down to about $790 per square foot. Records show Arena Capital paid about $3 million for the three parcels in 2015.

Mark Meland and Bryan Vega of Meland Budwick, P.A. represented the seller. The buyer is a Medley-based company, led by Alejandro Martinez of the auto parts company 4 Trucks Enterprises.

The two buildings are leased to Nicklaus Children’s Hospital and LabCorp. Nicklaus operates out of the larger 5,440-square-foot building at 990 West 49th Street, and Lab Corp. is moving into the adjacent 4,250-square-foot building within the next couple of months, Meland said.

The retail properties sit on a nearly acre lot along a strip of open-air shopping centers, near Westland Mall. Meland said Arena Capital worked on rezoning the properties before selling them.

Hialeah has seen a surge of investment activity recently. Earlier this week, New York City-based Philips International paid $6.6 million for the Holiday Acres Mobile Home Park in Hialeah. The Hialeah Executive Motel traded hands last month for $6 million; and Publix also dropped about $16 million to buy a shopping center it anchors in Hialeah.

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Arena Capital sells two retail buildings in Hialeah. April 5, 2018. Miami-based Arena Capital just sold two of its retail buildings in Hialeah for a total of $7.65 million. The retail buildings at 990 and 970 West 49th Street are adjacent to each other and span a total of 9,700 square feet – meaning the trade breaks down to about $790 per square foot. Records show Arena Capital paid about $3 million for the three parcels in 2015. Mark Meland and Bryan Vega of Meland Budwick, P.A. represented the seller. The buyer is a Medley-based company, led by Alejandro Martinez of the auto parts company 4 Trucks Enterprises. The two buildings are leased to Nicklaus Children’s Hospital and LabCorp. Nicklaus operates out of the larger 5,440-square-foot building at 990 West 49th Street, and Lab Corp. is moving into the adjacent 4,250-square-foot building within the next couple of months, Meland said. The retail properties sit on a nearly acre lot along a strip of open-air shopping centers, near Westland Mall. Meland said Arena Capital worked on rezoning the properties before selling them. Hialeah has seen a surge of investment activity recently. Earlier this week, New York City-based Philips International paid $6.6 million for the Holiday Acres Mobile Home Park in Hialeah. The Hialeah Executive Motel traded hands last month for $6 million; and Publix also dropped about $16 million to buy a shopping center it anchors in Hialeah. Click here to view full article. . Amanda Rabines, Other News‘It Really Worked’: Opposing Firms Join Forces to Save a Business From Bankruptcy, February 3, 2017, 5 Questions In The Cardinals Hacking Scandal, July 20, 2015, 5 Ways To Craft An Ironclad Celebrity Chef Deal, September 16, 2013, Archive. March 2024 November 2023 April 2023 January 2023 November 2022 June 2022 May 2022 April 2022 March 2022 . MRB. Contact us, Our attorneys, careers. About. Firm overview, Our Values, Community involvement, Representative matters. Pracrtice. Real Estate, Commercial Litigation, Receiverships and Assignments, Bankruptcy and Restructuring. In the News, Announcements, Film Videos. 2018 Meland, Russin, Budwick. ALL RIGHTS RESERVED.