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Downtown Dadeland’s retail space trades for $39M

Downtown Dadeland
Downtown Dadeland

The retail component of Miami’s Downtown Dadeland complex changed hands for $39 million.

DHPI Dadeland of Boca Raton acquired 127,000 square feet of retail and restaurant space at 7270 North Kendall Drive in a transaction recorded on Friday, according to Miami-Dade County records. The company is managed by Shane Hillsley. It received a $25.5 million loan from Principal Real Estate Investors for the purchase.

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Downtown Dadeland Retail of Irving, Texas is the seller. Goldman Sachs vice president Richard D. Case signed the deed as president of the selling company.

The mixed-use Downtown Dadeland was constructed in 2006. The complex is located across the street from Dadeland Mall. Its retail portion includes Chili’s, Panera Bread and West Elm. — Eric Kalis

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