A shopping center developer and investor sees the coronavirus pandemic upend retail real estate and still buys a Best Buy store in suburban Sweetwater for $20.4 million.
RK Centers, founded and led by Miami Heat part-owner Raanan Katz, bought the property from Shops at 107th LLC based in Sunny Isles Beach. The seller is managed by Salomon Hanono, a private equity and import-export professional.
The deal for 10760 NW 17th St. closed Friday at $447 per square foot. The 45,675-square-foot big-box store is between the Dolphin and Miami International malls on 4.23 acres on the southwest corner of Northwest 107th Avenue and 17th Street.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
