Cervera Real Estate Ventures Acquires New Shopping Center In Cutler Bay
MIAMI, Jan. 23, 2018 /PRNewswire-iReach/ -- Javier Cervera and his team at Cervera Real Estate Ventures are ringing in the new year on a positive note with the acquisition of a new property in Cutler Bay. The retail shopping center has a total of twelve bays, anchored by a Sprint store as well as local favorites, Steve's Pizza and Harvey's BBQ. Total square footage on the center is just under 15,000 square feet.
The strip center, located at 20210- 20236 Old Cutler Road, was purchased by Cervera from Líder Net Mall, LLC on December 21st, 2017. With an original asking price of $5.5 million, Cervera was able to close at $4.875 million in only 30 days.
Cervera R.E. Ventures is particularly excited about this project due to its growth potential. The center is currently 13 percent vacant and Cervera is confident that he and his team of management & leasing experts can fill it with a diverse group of tenants that can fulfill consumer demand in Cutler Bay. The investment firm also owns a retail center located less than four miles away at 7920 SW 168th Street, anchored by Starbucks.
Cervera R.E. Ventures is entering 2018 with a well-balanced portfolio, and intends to continue acquiring income-generating industrial, retail, and multi-family properties. The firm's proven strategy is hallmarked by handling all major aspects of the ownership life cycle from identification and acquisition, to operations management, and finally, maximizing partner returns on disposition. This strategy, paired with Mr. Cervera's expansive network of real estate experts has allowed him to build one of the most qualified and efficient investment and management groups in the state.
About Cervera Real Estate Ventures
Cervera Real Estate Ventures was founded out of a desire to harness unmatched market intelligence and make it the basis for maximized financial returns. As the second generation of the prolific Cervera Real Estate brokerage family, Javier Cervera draws upon a lifetime of hands-on expertise and a name that has played a pivotal role in building the South Florida skyline since 1960. Unlike many portfolio managers, Cervera and his team pay individual attention to each asset within the portfolio and providefirst-hand knowledge about the South Florida market and its neighborhoods. Mr. Cervera started Cervera Real Estate Ventures with an approach that combines strict criteria towards acquisitions, strategic partnerships, and hands-on property management while effectively managing properties to reduce risk and maximize returns.
Media Contact: Jake Guso, Cervera Real Estate Ventures, (305) 978-6663, [email protected]
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SOURCE Cervera Real Estate Ventures
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