Miami Beach parking lot mogul sells retail center in Lauderhill for $13M

Mirmelli and his partner, attorney Mark Alhadeff, paid $10.6M for the property in February 2019

Miami /
Jun.June 15, 2020 04:30 PM
4402-4678 North University Drive, Todd Nepola

4402-4678 North University Drive, Todd Nepola

Miami Beach parking lot owner Andrew Mirmelli sold a retail center in Lauderhill for $12.75 million, a year after buying it.

Mirmelli and Miami Beach attorney Mark Alhadeff sold the 143,430-square-foot Promenade at Inverrary at 4402-4678 North University Drive for $88 per square foot, records show. A company tied to Hollywood, Florida-based Current Capital Group and Todd Nepola purchased the property.

Mirmelli and Alhadeff paid $10.6 million for the property in February 2019, records show.

Tenants include My Salon Suite, Crafty Crab, Tate’s Comics and VCA Animal Hospital. It was built in 1986, according to records.

Current Capital Group secured a $11.5 million loan from CenterState Bank to acquire and renovate the shopping center. Nepola said he plans to completely remodel the property over the next 12 months. It is currently 83 percent occupied, he said, adding that he plans to keep the retail center as a long-term hold.

Current Capital Group also bought the Coco Vista Center in January in Port St Lucie for $14 million, and sold University Drive Plaza in Tamarac in December for $4.3 million.

Mirmelli owns M&M Parking Management in Miami Beach, which owns private parking lots. The parking company has come under scrutiny for its signs that reportedly confused drivers and have led to expensive towing costs.


Related Articles

arrow_forward_ios
Nautical Ventures Marine CEO Roger Moore and Holman Automotive CEO Brian Bates with 1400 South Federal Highway (Google Maps)

Holman sells former Fort Lauderdale BMW dealership for $6M

Holman sells former Fort Lauderdale BMW dealership for $6M
Rendering of the Dorsey with Alex Karakhanian, Jon Paul Perez and Tricera’s Scott Sherman and Ben Mandel (iStock)

Related scores $88M construction loan for Dorsey project in Wynwood

Related scores $88M construction loan for Dorsey project in Wynwood
12301 West Sunrise Boulevard with Raanan Katz, Bob Barth, Zach Zalben and Stanley Black (Google Maps, Linkedin, Getty)

Miami Heat minority owner continues Best Buy shopping spree with $12M Plantation deal

Miami Heat minority owner continues Best Buy shopping spree with $12M Plantation deal
From top: Ruben Lujo from Broward Meat, SunCap's Scott Auker and Ross Realty's Barry Ross with Penn Dutch Plaza shopping center in Margate (Linkedin, Google Maps)

Part of Margate shopping center formerly anchored by Penn Dutch sells for $12M

Part of Margate shopping center formerly anchored by Penn Dutch sells for $12M
Costco CEO Craig Jelinek and 8300 Park Boulevard, Miami (Costco, Google Maps, iStock)

Costco sells site near Doral to Trammell Crow for $19M

Costco sells site near Doral to Trammell Crow for $19M
(Google Maps)

Here are South Florida’s biggest retail leases in 2020

Here are South Florida’s biggest retail leases in 2020
(Getty)

Here are South Florida’s largest retail sales of 2020

Here are South Florida’s largest retail sales of 2020
Alex Rosemurgy and 2350 to 2390 North Federal Highway (Twitter, Google Maps)

Rosemurgy sells Pompano Beach shopping center for $10M

Rosemurgy sells Pompano Beach shopping center for $10M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...