A pair of Illinois companies traded a Doral retail center for $10.4 million, The Real Deal has learned.
Elston/LaJolla of Beach Park, Ill. filed a special warranty deed transferring ownership of the 10600 Northwest 19th Street center on Thursday, according to Miami-Dade County records. The company paid $6.8 million for the two-property site in August 2004.
The new owner of the nearly 97,500-square-foot center is RPAI Miami 19th Street II of Oak Brook, Ill. RPAI is tied to major investor Retail Properties of America.
Located immediately north of the busy Miami International Mall, the center was originally constructed in 2003. Tenants include Bed Bath & Beyond, Office Depot and Pier 1 Imports. It is currently the only Miami retail property in RPAI’s portfolio, according to the company’s website.
No financing was recorded.