BRAND NEW 62,500 SQUARE-FOOT WALMART-ANCHORED SHOPPING CENTER IN MIAMI GARDENS HITS THE MARKET FOR $12.5 MILLION
NORTH MIAMI BEACH, Fla. (September 26, 2017)—Macken Companies has announced that its newly constructed Palmetto Design Center, a seven-acre, 62,500-square-foot shopping plaza at 3791 NW 167 St. in Miami Gardens, is now on the market for just under $12.5 million. The property has been listed by its in-house real estate brokerage firm, Macken Realty, Inc., and Monte I. Greenberg has been named the exclusive sales agent.
Palmetto Design Center is anchored by a 41,800 SF Walmart Neighborhood Market and features an additional 11,100 SF of inline space, whose tenants include T-Mobile, Edible Arrangements, OPI Nails and Laundromart. The Inline space was completed at the end of 2016. In addition, a three-quarter-acre outparcel has been leased, and upon completion of the space, will contain a full-service Spin Car Wash.
The Walmart Neighborhood Market has 18 years remaining on its lease with 16 five-year options, totaling 80 years. All the other tenants have four years remaining on their respective leases with options ranging from 5-25 years.
“This is an exceptional investment opportunity,” stated Alan S. Macken, developer and co-owner, Palmetto Design Center. “This center only recently completed construction, offers unparalleled visibility, includes an ideal tenant mix, and most importantly, business at our center is booming!”
Palmetto Design Center directly fronts the Palmetto Expressway at Douglas Road, offering tenants tremendous visibility from the 180,000 vehicles that drive by each day.
To develop the plaza, Alan S. Macken of Macken Companies and Zvi Shiff of DZD Holdings entered into a joint venture, DZD Palmetto, to construct and lease the subject premises. For more information, please contact Monte I. Greenberg 754-301-7911 or via email at MGreenberg@MackenCompanies.com or visit www.mackencompanies.com.
About Macken Companies
Macken Companies is a fully integrated firm with real estate investment, development, construction, financing and brokerage entities. Over the course of nearly 30 years, Macken Companies has been instrumental in the repositioning and revitalization of neighborhoods throughout South Florida. The name Macken has become synonymous with visionary planning and development, superior construction, and record-breaking sales and marketing. As a fully integrated firm, Macken Companies’ affiliate entities—VCM Builders, Macken Realty, SFCS, Sefran, G&A Strategic and MTV Investments—work in tandem to offer clients complete residential and commercial real estate solutions. Regardless of the size and scope of the endeavor, Macken Companies approaches every opportunity with equal passion, diligence and accountability. As a result, Macken Companies is highly regarded throughout the state for its reputation and integrity. For more information, visit www.mackencompanies.com