MMG Equity Partners acquired a 21,830-square-foot retail building in Pinecrest, FL, through foreclosure after having purchased the foreclosure judgment from the previous lender.
The free-standing retail building at 9171 S Dixie Highway is currently leased to Baer's Furniture, which is utilizing it for the operation of the Dania Design Center.
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MMG plans to remodel the building and find another furniture retailer to lease the building in the future.
"We were attracted to the building due to its irreplaceable location just south of Dadeland Mall and the excellent visibility it provides to the to the 100,000 vehicles that pass in front of it daily," said MMG principal Gabriel Navarro. "The areas demographics are ideal for high-end furniture retailers, with household incomes of almost $100,000 within three miles. We plan on making upgrades to the building and its exterior, allowing it to be a flagship location for its occupant."
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