Codina Partners nabs $20M in financing for Downtown Doral’s retail component

The property covers 50k sf of retail and restaurant space

TRD MIAMI /
Aug.August 04, 2017 02:00 PM

A rendering of Downtown Doral’s retail portion and Armando Codina

UPDATED Aug. 4, 3:10 p.m.: Codina Partners just nabbed another $20 million in financing for Downtown Doral, property records show.

The new loan covers 50,000 square feet of retail space in Codina’s Downtown Doral project. Records show the lender is Wells Fargo.

Codina Partners CEO Ana Codina Barlick said in a statement that the loan is for Phase 2 of the retail for The Shops at Downtown Doral. It will be a natural continuation of phase 1 of The Shops at Downtown Doral.

The restaurants and shops that the loan covers will line 53rd Street beginning at Paseo and will continue to between 84th Avenue and 85th Avenue. Phase 2 is scheduled to be completed in the fourth quarter of this year.

The mixed-use project already has a leasing roster of about 70 retail shops and restaurants. Last year Codina Partners unveiled Publix Super Markets as its grocery store tenant in Downtown Doral. Construction of the supermarket is also expected to wrap up in December.

Codina is creating Downtown Doral on the former site of Koger Office Park near the Palmetto Expressway. When completed, Downtown Doral will have more than 1 million square feet of commercial space, 400,000 square feet of Class A office space and 5,000 residential units. The master-planned community will include a city hall, charter school, town homes, single-family homes and eventually, eight condo towers.

In Doral, Downtown Doral joins such other mixed-use developments as Related Group’s and Shoma Homes’ CityPlace Doral, which includes 600,000 square feet of retail and more than 1,000 residences.

Correction: A previous version of this story said the loan was for Phase 1.


Related Articles

arrow_forward_ios
Venezuelan leader Nicolás Maduro and the city of Caracas (Credit: Wikipedia, iStock)

Venezuelan government looks to seize homes of Venezuelans living abroad: report

Donald Trump, and Trump National Doral Miami golf resort (Credit: Getty Images and iStock)

Trump disputes report that Doral golf resort has bedbugs

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

South Florida firm, partner acquire Tampa office building for $29.4M

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Felipe Valls Jr., 9000 Northwest 25 Street in Doral (Credit: Getty Images, Google Maps)

Family behind La Carreta and Versailles sells Doral shopping center

arrow_forward_ios