The Real Deal Miami

Town & Country Plaza sells for $22.5M

November 05, 2008 11:30AM

Miami-based MMG Equity Partners bought the 94,816-square-foot Town & Country Plaza shopping center in Kendall for $22.5 million. Town & Country Plaza Inc. was the seller of the property, located at Southwest 152nd Street and 137th Avenue. The shopping center is anchored by Sedano’s Supermarket and Navarro Discount Pharmacy, with other tenants including Advance Auto Parts, Goodwill Industries and Rey’s Pizza. The center’s average rental rates range from the low- to mid-$20s per square foot — slightly lower than the Coral Gables/Kendall submarket average of $25.05 per square foot.