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Indigo, Linkvest plan mixed-use project in Hialeah Gardens
Three-story storage facility, seven single-tenant retail buildings proposed for development
Indigo Properties and Linkvest Capital are planning to redevelop a truck yard into a mixed-use project in Hialeah Gardens.
The joint venture is proposing a three-story self-storage facility sandwiched between seven single-tenant retail buildings on an 8-acre site at Northwest 138th Street and Northwest 107th Avenue, according to a press release.
The self-storage facility would span between 26,000 square feet and 30,000 square feet, according to a preliminary site plan, and the retail buildings would entail approximately 2,800 square feet to 3,200 square feet each.
South Miami-based Indigo and Miami-based Linkvest are proposing a retail mix that includes a gas station, fast food restaurants, a car wash, an oil change shop and a bank or medical office tenant, the release states.
The joint venture paid $5.8 million for the truck yard. The sellers are The Alan Kombluh Revocable Trust, The Harris Family Living Trust and The Sidney Crown Revocable Trust. Attorney Daniel Diaz Leyva represented Indigo and Linkvest.
“This project will replace a long-neglected site at a key intersection,” Leyva said. “The joint venture will deliver a project that will help expand the city’s tax base and bring much-needed quality retail to the neighborhood.”
Indigo and Linkvest plan on targeting national retail tenants for the project, Leyva added.
The joint venture’s purchase marks the second trade of shovel-ready retail development site in South Florida in the past week. Sarasota-based retail developer JBCC Development recently paid $12 million for a 10-acre property in West Palm Beach. The site is approved for a retail plaza divided into six single-story buildings, including a fast-food pad with a drive-thru and a gas station.
Led by president Alex Sanchez, Indigo is a real estate firm founded in 1996 that specializes in single tenant and multi-tenant retail projects in Miami-Dade County, the release states. Indigo’s tenant roster includes Family Dollar, McDonald’s, Publix, Tire Kingdom and Walgreens.
Linkvest, led by principal Camilo Niño, is an alternative investment firm that has provided more than $350 million in mortgages for residential and commercial projects in Florida and Georgia, the release states. The firm has also invested more than $100 million in partnerships with developers of multifamily and mixed-use projects in Florida.