Posted on April 12, 2017
SFBJ Article – Kendall Pointe Sale
Grocery-anchored retail center in Miami-Dade sells for $16.5M
Apr 6, 2017, 12:13pm EDT
Brian Bandell Senior Reporter South Florida Business Journal
Miami-based Orion Real Estate Group sold the Kendall Pointe shopping center in Miami-Dade County for $16.5 million.
Kendall Pointe LLC, an affiliate of Orion, sold the 82,817-square-foot retail center at 16508 S.W. 88th Street (Kendall Drive) to Toronto-based Northbridge Investment Management. The deal equated to $199 per square foot.
Orion acquired Kendall Pointe through foreclosure in 2011 after buying a distressed mortgage. It was built on the 6.8-acre site in 2007.
The main tenants are Aldi, Pet Smart, and a Baptist Health South Florida clinic.
Orion has sold $45 million in properties in the past 30 days.
Posted on April 05, 2017
Orion Real Estate Closes Second Kendall Commercial Property
$45 million in deals in 30 days
MIAMI, April 5, 2017 – Orion Real Estate Group, a South Florida-based commercial brokerage, has completed a second sale in Kendall in the last 30 days.
Today the Kendall Pointe shopping center in west Kendall closed for $16.5 million. Kendall Corners closed for $38,575,00 in March.
“Our team has shown continued success in identifying undervalued locations and making upgrades to stabilize the properties. When the timing is right our sales team is able to market them well and return proceeds to our investors.” said Joe Sanz, CEO of Orion Real Estate Group.
Orion has several acquisitions and dispositions expected to close in April and May.
About Orion Real Estate Group
Orion Real Estate Group provides commercial real estate services to investment clients around the world. Since its founding in 1978, the firm has been involved in more than $2.5 billion in transactions. Working with clients across the United States, the firm helps clients and their investors through all phases of real estate transactions from strategic planning and analysis to financing, negotiation and disposition. For more information visit www.orionmiami.com.
Posted on March 14, 2017
MIAMI, March 14, 2017 – Orion Real Estate Group, a South Florida-based commercial brokerage, has completed five transactions in the last 30 days.
In addition to selling the previously announced Kendall Corners property for more than $38 million, the firm sold a $78 million portfolio of Red Lobster restaurants in Canada on March 13 and closed on the $16.5 million sale of Kendall Pointe shopping center in West Kendall. Kendall Corners was purchased for $31 million in 2013.
On the purchase side, the firm acquired a portfolio of Sonic restaurants in Wisconsin and Illinois.
“These transactions are the culmination of our team’s work in identifying undervalued locations, conducting due diligence and making upgrades to stabilize properties in the portfolio,” said Joe Sanz, CEO of Orion Real Estate Group.
Orion’s deal-making pace shows few signs of slowing with a number of acquisitions and dispositions in the pipeline expected to close in late March and April.
About Orion Real Estate Group
Orion Real Estate Group provides commercial real estate services to investment clients around the world. Since its founding in 1978, the firm has been involved in more than $2.5 billion in transactions. Working with clients across the United States, the firm helps clients and their investors through all phases of real estate transactions from strategic planning and analysis to financing, negotiation and disposition. For more information visit www.orionmiami.com.
Posted on March 06, 2017
This week we closed on the disposition of Kendall Corners, a shopping center that was held in Orion Ventures VIII. The property was purchased for $38,575,000 and consists of 98,179 square feet of retail space.
