Ibrahim Al-Rashid And Joseph Sanz Sell Pinecrest Town Center For $42.5 Million

The property asset involved in the transaction is a mixed-use development located at 12651 South Dixie Highway in Pinecrest. The property spans 228,355 square feet and was sold for a price of $42,500,000. The price reflects a price per square foot of $186. The property is currently about 90% leased with various office and retail tenants.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $42,500,000
• Address: 12651 South Dixie Highway
• Market: Pinecrest
• Seller: Ibrahim Al-Rashid - Limestone Asset Management
• Seller: Joseph Sanz - Orion Real Estate Group
• Broker: Eric Williams - Newmark
• Square Footage: 228,355
• Price per Square Foot: $186

Limestone Asset Management and Orion Real Estate Group sold the Pinecrest Town Center nearly three years after acquiring it for $32,000,000. The renovations completed on the property amounted to $6,000,000, and the current tenants include Sage Dental, Coldwell Banker, F45 Training, and several restaurants.