Stockbridge Capital Group acquired the El Mercado Shopping Center in Hialeah for $23.1 million. The 96,000-square-foot shopping center, located at 2400 W 60th St., is anchored by Publix. At the time of closing, the center was 99 percent leased. Tenants include Rent-a-Center, Payless Shoes, GMC, Little Caesars and SunTrust Bank. CREC’s Warren Weiser, Harry Blyden and Andrew Remick represented the seller, El Mercado Associates.
“We saw significant buyer interest from both institutional and private investment groups largely because El Mercado is a Publix-anchored shopping center with a strong mix of national and local tenants, and Hialeah is considered one of the cities with the highest density in Florida,” said Weiser, CREC’s chairman. “The market is seeing a high level of interest from investors seeking to buy this type of quality shopping center with a stable rent roll, making it a very attractive investment.”
