Miami, FL – August 28, 2015 – (RealEstateRama) — CBRE arranged the sale of Bird 107 Plaza, a 40,101-square-foot, multi-tenant retail center located at 10591-10695 SW 40th Street (Bird Road) in unincorporated Miami-Dade County, Florida. Equity One Acquisition Corp. purchased the property from Bird 107 Partners, Ltd., LLLP which hired CBRE to market the asset for sale and negotiate the transaction. The purchase price was not disclosed.
Bird 107 Plaza is 100% occupied and has an impressive roster of national tenants including Walgreen’s, Payless ShoeSource, Pet Supermarket, Sherwin Williams and Radio Shack. The sale includes two outparcels ground leased to Pizza Hut and Checkers.
“The Equity One acquisition of Bird 107 Plaza complements the company’s other shopping center holdings in the immediate vicinity on the Bird Road corridor,” said Todd Weintraub, First Vice President with CBRE. “The center has numerous attributes including continuous long-term tenancy, significant upside potential in the rental stream and a high-density, family-oriented trade area with over 85,000 vehicles per day passing the shopping center.”
Todd Weintraub, David Donnellan and Patricia Friend of CBRE managed the sale. Based in Miami and Fort Lauderdale, they are part of CBRE’s Investment Properties group focusing on the disposition of multi-tenant shopping centers and single-tenant net leased investments in South Florida.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com