Universe 2004 LLC purchased the property, located at the Palmetto Expressway and Northwest 25th Street, after it had been on the market for more than a year. Palmetto Miami Co. LLC and Jersey Palmetto LLC were the sellers. The land sale closed March 5. The site consists of three parcels, a 180,000-sf building that originally housed an Incredible Universe store and a lake. Radioshack Corp. opened 17 Incredible Universe consumer electronics superstores in the US in the early 1990s, but all locations closed by the end of the decade.

Universe 2004 LLC, an investment group, plans to redevelop the site, which most recently was home to a flower distribution facility, and is looking at several possibilities for the property: industrial, retail, office and flex space. "They thought that this was a prime piece of property in this area, with potential upside for redevelopment," Alliance Cos. broker Ernesto Casal tells GlobeSt.com. Casal represented Universe 2004 LLC in the transaction.

Although Casal says Universe 2004 LLC is "looking at multiple options at this time," one possibility that the new owner sees demand for at this time is a retail-showroom-expo center, filled with companies that sell building materials, furniture, finishes and so on. That area has a lot of tile and furniture companies these types of businesses are already established in the area.