2963 NW 79th St, West Little River, Miami, FL
IMC Equity Group bought the Flea Market USA property in the West Little River neighborhood of Miami for $13.5 million. IMC owns the 33-acre site next door.
Northside Station Mixed Use is being proposed at this time.
The group plans to build a multi-phased mixed use project with retail and a residential portion with up to 2,500 units. Developer expects the building to break ground this year and the project could take five to seven years to complete.
Miami Merchants Mart LLC, led by New York developer Haim Chera, sold the 225,417-square-foot retail center at 3017 Northwest 79th Street for $59 per square foot. Chera partnered with the Nakash family, the owners of Jordache Jeans, to purchase the property in 2011 for $11 million.
The flea market building was built in 1970 and sits on a 15.4-acre lot that fronts the Northside Metrorail station.
North Miami-based IMC Equity also owns the Northside Centre shopping mall next door, which sits on 33 acres. The company could build mid-rise, market rate apartment buildings with retail space on the ground floor .
The flea market was a staple in West Little River, near Liberty City, since the 1980s. The large warehouse had a number of different jewelry stores, hair salons and retail vendors inside. It closed in 2019.
Contact Andrey for more details.