Jan
18
Terra Sells $72M Miami-Area Retail Center
ByDoral Commons, which was 95 percent leased at the time of sale, fetched $514 per square foot two years after being completed.
Two years after completing development of Doral Commons in Doral, Fla., Terra Group has traded the 140,000-square-foot retail center for approximately $72 million, or roughly $514 per square foot. With the assistance of commercial real estate services firm Cushman & Wakefield, the integrated real estate development and investment firm sold the grocery-anchored property to Jamestown LP.
Located 15 miles west of Miami, at the intersection of NW 74th St. and 107th Ave., the Doral Commons shopping center made its debut in early 2016 and originally served as the retail portion of Terra’s mixed-use Doral Commons project, which has been credited with redefining Doral’s new architecture. The retail and residential segments were later separated…
