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Last Parcel in Venamerica Property Sells for $4M

MIAMI-The buyer, Lejeune Airport Park Suites Inc., plans to develop the land, and a hotel is a primary possibility, according to the broker involved in the sale. Meanwhile, the sale of the entire Venamerica Property has meant a nearly 100% return on equity for the seller, Venamerica Florida LLP.

By Melissa Bogdany | Updated on July 08, 2003

MIAMI-Lejeune Airport Park Suites Inc., a Florida corporation based locally and controlled by Alfredo Valdez, has purchased a parcel of land here, on which it may develop a hotel.

The company bought 4.67 acres at Northwest 12th Street and Milam Dairy Road, just southwest of Miami International Airport, for $4 million, or approximately $856,531 per acre. The seller was Venamerica Florida LLP, a partnership led by Robert Cambó, CEO of Alliance Cos. Inc., a locally-based commercial real estate development and brokerage firm.

The new owner is not 100% sure it will develop a hotel, but the company is an investor and has been a hotel operator in the past, and that is one of the primary possibilities, Ernesto Casal of Alliance Cos., who brokered the sale, tells GlobeSt.com. If a hotel is developed, it likely would be a garden-style hotel with two or three stories and not a high-rise, he adds.

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