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.