Orion Sells Miami Retail Center for $19 Million by Kevin Sanz, CCIM, MSIRE

Posted on July 06, 2021

Orion Real Estate Group today announced it has sold Coral Park, a 49,134-square-foot strip shopping center in Miami, to a private investor for $19 million.

The property, at 9720-9806 SW 8th St., is one mile from Florida International University (FIU) and includes recently extended, long-term, triple-net leases with name-brand tenants that include CVS, AutoZone and Goodwill. Orion originally purchased the property at 9720-9806 SW 8th St. in 2014 for $13.4 million, yielding investors both seven years of passive rental income and an eventual gain on their initial investment.

With offices in Miami, Orlando, New York City and Geneva, the team at Orion works with investors, developers, property owners and brokers through all phases of real estate transactions, from strategic planning and analysis to financing, negotiation, property management and disposition. For more information, call (305) 278-8400 or email info@orionmiami.com.