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

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.