Publix anchors Corsica Square, with national and regionalretailers rounding out the tenant roster. The property sits on a7.5-acre tract at the intersection of 152nd Street and 157th Avenuein the West Kendall submarket of the county.
The Miami office of Holliday Fenoglio Fowler arranged the deal.The investments sales team led by Daniel Finkle, managing director;George Vail, director; and Luis Castillo, senior analyst, reppedParadise Development. Finkle tells GlobeSt.com the deal for the100%-occupied center carried a 6.5% cap rate. The per-square-footprice also ranked among the highest for a grocery-anchored centerin Dade County, he adds.
Finkle did not release the rental rates; however, a CB RichardEllis market report for the fourth quarter of 2006 put the rentalrates between $32 and $35 per sf.
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