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Medical Office Breaks Ground In Hialeah With $13M Construction Loan

Developers broke ground on a medical office building in Hialeah after obtaining a $13 million construction loan.

Ocean Bank provided the mortgage to Miami Gardens-based 5 Aces Capital Hialeah Land LLC, managed by Alejandro Garcia, and Cam Group at Hialeah LLC, managed by Pedro Alberto Camejo. The loan matures in 18 months, with a potential 10-year extension It covers the 1.85-acre site at 4300 W. 12th Ave., about three blocks west of Goodlet Park.

Miami-based Hidalgo Construction Group recently filed notice with Miami-Dade County that it started construction of the three-story medical office building totaling 48,824 square feet.

The project was recently listed for lease online at $32 a square foot, with availability anticipated in December 2023.

The developer acquired the vacant site for $6.85 million in late 2021.

Source: SFBJ

December 12, 2022/by ADMIN

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