United Capital Secures $9M Refinancing for Ives Plaza Shopping Center in Miami Gardens

United Capital has secured a $9 million refinancing for Ives Plaza, a 56,841-square-foot neighborhood shopping center located at 19904-19960 NW 2nd Avenue in Miami Gardens, Florida. Metropolitan Commercial Bank provided the financing.

United Capital acquired the property in December 2025 for $12 million from Andy Ansin, President and CEO of Sunbeam Television. Since acquisition, the company has begun executing a strategic leasing and repositioning plan aimed at enhancing the tenant mix and unlocking long-term value.

PROPERTY STATUS:

The shopping center is currently approximately 70 percent leased to 15 tenants, including Pizza Hut and Rent-A-Center. Three available retail spaces totaling approximately 19,200 square feet remain available. United Capital is actively in lease negotiations with several national retailers for the vacant spaces.

"We thank MCB for being a valued financial partner," stated Adam J. Tiktin, founder and CEO of United Capital. "The level of retailer interest we've seen since acquiring the property reinforces our conviction in the opportunity at Ives Plaza. This financing positions us to continue executing our business plan, and we see a clear path to enhancing the property's overall appeal, making strategic improvements and creating long-term value for both our investors and the community."

STRATEGIC LOCATION:

Positioned at the intersection of Ives Dairy Road and Highway 441 (NW 2nd Avenue), Ives Plaza benefits from strong visibility, accessibility, and proximity to major residential neighborhoods, employment centers, and regional destinations. Directly across from a Publix-anchored shopping center, the property is well-positioned to attract a diverse mix of national, regional, and local tenants.

The property sits on nearly 6.5 acres and represents a significant value-add opportunity within a growing Miami Gardens market.

MARKET DRIVERS:

Ives Plaza stands to benefit from the continued evolution of Miami Gardens as one of South Florida's premier sports and entertainment destinations. Anchored by Hard Rock Stadium, the city hosts several marquee events including Formula 1's Miami Grand Prix, the Miami Open, international sporting events, and major concerts—helping drive economic growth, tourism, and consumer activity throughout the area.

HIGH TRAFFIC COUNTS:

The property records approximately 61,500 AADT on US 441/NW 2nd Avenue and 25,500 AADT on NW 199th Street/Ives Dairy Road. It offers immediate access to Interstate 95 (±195,000 AADT) and Florida's Turnpike, providing excellent regional connectivity.

DEMOGRAPHIC STRENGTH:

Within a 1-mile radius, the property serves a population of 25,090 with an average household income of $86,704. The 5-minute trade area expands to 32,974 residents with average HH income of $87,791.

FUTURE DEVELOPMENT:

United Capital's redevelopment vision includes proposed new construction retail outparcels and a multi-family tower component delivering a built-in customer base. The company is seeking national and strong credit tenants for the new outparcel buildings, and will consider ground leases, build-to-suits, and multi-tenant retail configurations.