The Real Deal Miami

Downtown Dadeland’s retail space trades for $39M

Boca Raton investor acquires 127,000 square feet across from large Miami mall
August 05, 2014 12:45PM

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.

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