Elysee Investments Purchases Blue Lagoon Shoppes In Miami For $28 Million From Keystone Holdings Group

The property involved in this transaction is Blue Lagoon Shoppes, a fully leased neighborhood shopping center situated at 1101 Northwest 57th Avenue in Miami, Florida. The asset was sold for $28,000,000, encompassing a total area of 29,205 square feet. This retail property occupies approximately 2.41 acres and is located in a market that emphasizes high demand for stabilized retail assets.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $28,000,000
• Buyer: Elysee Investments
• Seller: Keystone Holdings Group
• Buyer’s Representative: Mario Borda - Borda Commercial Real Estate, Inc
• Seller’s Representatives: Brian de la Fé, Michael Fay, John Crotty & David Duckworth - Avison Young
• Sale Price per Square Foot: $958

The sale was facilitated by Avison Young, representing the seller, Keystone Holdings Group, which has owned and operated the property since its development in 2021. The center is 100% occupied by a variety of tenants, including well-known brands such as Starbucks and Chipotle, highlighting the diverse nature of the retail space. Mario Borda acted on behalf of Elysee Investments in this transaction.