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JM Schapiro Of Continental Realty Corporation Acquires CityPlace Doral Retail Center For $87.5M

Property Image
SOLD
$87,500,000
Jorge Portela
Danny Finkle
JM Schapiro
+ 1

Florida

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Retail235,000 SF
Sold
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Property Image
SOLD

JM Schapiro Of Continental Realty Corporation Acquires CityPlace Doral Retail Center For $87.5M

3450 Northwest 83rd Avenue

See Similar Deals
Retail235,000 SF
Sold
Jorge Portela
Danny Finkle
JM Schapiro
+ 1
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$372
Total Square Footage:235000 SF
Transaction Type:Sale

The retail asset sold is located at 3450 Northwest 83rd Avenue in Doral, encompassing 18 acres. The property features a total space of 235,000 square feet and was sold for $87,500,000, equating to $372 per square foot. The asset was 80% leased at the time of the sale and includes notable tenants such as Fresh Market and Cooper’s Hawk.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $87,500,000
  • Address: 3450 Northwest 83rd Avenue
  • Market: Doral
  • Asset Size: 235,000 SF
  • Price Per Square Foot: $372
  • Buyer: JM Schapiro - Continental Realty Corporation
  • Seller: Cathy Marcus - PGIM Real Estate
  • Broker Representatives: Danny Finkle & Jorge Portela - JLL

JM Schapiro represents Continental Realty Corporation, marking their first retail investment in South Florida. Cathy Marcus represents PGIM Real Estate in this transaction. JLL's Danny Finkle and Jorge Portela were instrumental in brokering the deal.

Players

Danny Finkle
JLL
Danny Finkle
56 deals$3.9B volume
BROKER
Jorge Portela
JLL
Jorge Portela
22 deals$1.6B volume
BROKER
JLL
JLL
BROKERAGE
JM Schapiro
Continental Realty Corporation
JM Schapiro
12 deals$396M volume
BUYER
Continental Realty Corporation
Continental Realty Corporation
BUYER
Cathy Marcus
PGIM
Cathy Marcus
31 deals$2.6B volume
SELLER
PGIM
PGIM
SELLER

Details

SOLD
IMAGE: JM Schapiro, Cathy Marcus, Jorge Portela & Danny Finkle DATE: 06/10/2025 ADDRESS: 3450 Northwest 83rd Avenue MARKET: Doral ASSET TYPE: Retail ~ ACRES: 18 BUYER: JM Schapiro - Continental Realty Corporation (@CRCRealty) SELLER: Cathy Marcus - PGIM Real Estate (@PGIM) BROKERS: Danny Finkle & Jorge Portela - JLL (@JLL) SALE PRICE: $87,500,000 SF: 235,000 ~ PPSF: $372 NOTE: Continental Realty Corp. acquired the 235,000 SF CityPlace Doral retail center for $87.5M, marking its first retail investment in South Florida. PGIM Real Estate sold the 80%-leased asset, which includes tenants like Fresh Market and Cooper’s Hawk, at $372/SF; JLL's Danny Finkle and Jorge Portela brokered the deal.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$310,869.01
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