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Shoppes at Hidden Lake Located in Kendall Sells for $27M

Blanca Commercial Real Estate, a leading independently woman and minority-owned, full-service commercial real estate services firm in South Florida, announced today the sale of Shoppes at Hidden Lake, located in Kendall, Florida. The property sold for $26 million, and although 96% leased, it offered a value-added opportunity with the ability to increase rents. Cary Cohen, Executive Vice President of Blanca Commercial Real Estate, represented the seller, the Shoppes at Hidden Lake, LLP.

“This offering presented investors the rare opportunity to acquire an immaculate, newly constructed stabilized shopping center with upside potential,” said Cary Cohen. Cohen procured the buyer, a 1031 exchange investor. “Assets like Hidden Lakes are highly sought after. We were able to close within 45 days of listing it.”

This 62,744 square foot Class A retail property features two buildings with beautiful lake views and 279 parking spaces (4.45 spaces per 1,000 SF). The property’s corner location at SW 127th Avenue and SW 128th Street offers maximum exposure to passing traffic, and is in close proximity to residential neighborhoods including Country Walk, the Crossings, Deerwood and the Hammocks, within five minutes from Miami Executive Airport, and has convenient access to major transportation systems through MDX SR-874 ramp connector.

Global interest in Miami’s commercial real estate has always been significant. This pandemic era has seen an unprecedented amount of interest from domestic buyers seeking to place capital in Florida.

Cary Cohen

“Our strategic marketing campaign and methodology to reach qualified buyers across the globe resulted in a competitive process across five different continents allowing us to procure the perfect buyer for this property. Leveraging our experience and best-in-class technology we consistently find the right buyers and drive top values for our clients,” says Cary Cohen. “Global interest in South Florida’s commercial real estate assets has always been significant. This pandemic era, however, has brought an unprecedented amount of interest from domestic buyers seeking to place capital throughout the South Florida region,” he adds.

Since its establishment in 2009, Blanca CRE continues to be noted for delivering distinctive 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. Blanca’s quarterly market reports are viewed as the go-to for many CRE professionals, the highly anticipated 4Q 2021 market report is expected to be released at the end of January 2022. For more information, please visit www.blancacre.com.

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Tags: , , Last modified: February 6, 2022