Miami Retail Center Sells for $58M
Orion Capital Partners acquired Miami’s Greenery Mall for $58 million. The new owners also assumed an existing $39 million mortgage. Cofe Properties was the seller. The mall is one of Miami’s oldest, built in 1983. It’s situated in Dadeland Square. An Orion affiliate, Orion Real Estate Group, will manage the property and lease the retail space.
The 8.38-acre property comprises 129,585 square feet of street-level retail attached to an eight-story, 84,913-square-foot suburban office building. Major retail tenants include T.J. Maxx, HomeGoods, Guitar Center, JoAnn Fabric, Mattress Firm, Starbucks, Don Pan, UPS and Jamba Juice.
The land is located in the Kendall SMART Plan Mixed-Use Corridor and the Rapid Transit Activity Corridor due to its proximity to the Dadeland South Metrorail Station and the South Dade TransitWay Bus Terminal.
