Miami-based Elysee Investments has acquired Aventura Plaza, a retail property located at 17801 Biscayne Boulevard in Aventura, for $48 million. The price per square foot came out to $533.
The property includes a 90,000-square-foot shopping center and an office building. The two-story office building is 23,554 square feet and the retail portion is 66,300 square feet. The Plum Market grocer recently replaced a shuttered Office Depot.
The deal included $26.4 million in seller financing, which matures in five years. The seller was Marilyn Klompus with Aventura Plaza Holdings. The Miami Business Chronicle reports the Klompus family has owned the center for decades. It opened in 1972.
The Buyer was listed as Haim Yehezcal on behalf of Elysee Investments.
Cushman & Wakefield’s Mark Gilbert, Adam Feinstein, and Mitchell Halpern brokered the deal. The brokers said the commercial center was 92% leased.
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