MIAMI-AREA SHOPPING CENTER TRADES FOR $11.75 MILLION

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HIALEAH, FLA. — Marcus & Millichap has completed the sale of a shopping center located in the Miami suburb of Hialeah for $11.75 million. Constructed in 1948, Essex Shopping Center is situated on 5.23 acres at 435 Hialeah Drive. Major tenants at the 75,592-square-foot center include Payless ShoeSource, GNC, Advance America and Sunshine Citgo. Alex Zylberglait, Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office represented the seller, a Miami-based private investment group. Arthur Porosoff and Jorge Ruiz, also of Marcus & Millichap’s Miami office, represented the buyer, another Miami-based investment group.

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