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The two-story Doral Shops sold for $57 million.
Sammoury Investment, managed by Anton Samour, George Samour and Hani Jardack in Miami, sold the 113,354-square-foot retail plaza at 11402 N.W. 41st St. to Miami-based SOFI Retails LLC, managed by Americo D’Agostini, who is also manager of A&D Group Realty. Marcus & Millichap’s Scott C. Sandelin and Edward Romo represented the seller in the deal.
The price equated to $502 a square foot.
The Doral Shops was built on the 5.9-acre site, a block east of Florida’s Turnpike, in 2002. This is the first time it has sold
Marcus & Millichap said the property is 99% occupied. Tenants include Navarro Discount Pharmacy, Dunkin' Donuts, Baru, Subway and Sherwin-Williams.
“The sellers, who developed the property more than 20 years ago, are exiting at an optimal moment,” Romo stated. “The buyers have a long-term perspective and recognized the opportunity to acquire a prime asset with strong underlying real estate fundamentals, a high replacement cost, and a sustainable and growing income stream due to below-market rents.”
High retail occupancy rates and record rents have led to increasing retail property values in Miami-Dade County.
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Sum dollar volume sales/leases in S. Fla
| Rank | Prior Rank | Company / Prior (*Not ranked in 2021) / URL |
|---|---|---|
1 | 1 | Cushman & Wakefield |
2 | 2 | Newmark |
3 | 3 | CBRE |
