The Real Deal Miami

Investor grabs two Miami-Dade Walgreens stores

Doral company pays combined $18 million for properties in county
July 08, 2014 03:45PM

16795 South Dixie Highway

16795 South Dixie Highway

A Doral company picked up a pair of Miami-Dade County Walgreens buildings for a combined $18 million.

In the most recent deal, Jarem Investments paid $10.2 million for a 16,000-square-foot store at 12711 Quail Roost Drive in unincorporated Miami-Dade County, according to county records. The county recorded the transaction on Monday. The seller, Profin Investments of Coral Gables, paid $7.4 million for the property in October 2009.

Jarem’s latest Walgreens store purchase follows the company’s $7.8 million acquisition of one at 16795 South Dixie Highway in Palmetto Bay. That deal was recorded by the county in May. Seller Regents LLC of Fort Lee, N.J. paid $8 million for the property in September 2007.

State corporate records identify Eunice Singer de Russoniello as Jarem’s manager.

Jarem received a $5.3 million loan from Mercantil Commercebank for the Palmetto Bay purchase. — Eric Kalis