MMG acquires pair of Miami shopping centers

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MMG Equity Partners has acquired two grocery-anchored shopping centers in Miami-Dade County, the firm announced. The Miami-based company has acquired Colonial Shopping Center, a 64,000-square-foot President Supermarket-anchored center at 450 NE 125th Street in North Miami, and Tropical Shopping Center, which is located at 8100 North Miami Avenue. “Both assets are grocery-anchored shopping centers in infill areas of Dade County,” said Gabriel Navarro, principal at MMG. “We believe that we can increase value through enhancing the tenant mix and improvements to the properties.” MMG has now acquired five properties over 21,000 square feet in South Florida this year. — Alexander Britell