Benderson buys shuttered Toys “R” Us store in Doral

The company recently purchased another shuttered Toys “R” Us in Palm Beach Gardens

1645 Northwest 107th Avenue and Randy Benderson
1645 Northwest 107th Avenue and Randy Benderson

Benderson Development Company is creating a niche: It just bought another former Toys “R” Us store this week.

Property records show an entity tied to the company paid $8.5 million for a location in Doral. The 44,542-square-foot building at 1645 Northwest 107th Avenue traded hands for $191 per square foot.

The property spans 4 acres and sits just west of Miami International Mall. Records show Toys “R” Us paid $2.6 million for the site in 1983, which is the same year it was built.

One Investment Group’s Alex Rich is handling sales for an adjacent 20,270-square-foot building on the east side of the property. The former Babies “R” Us store is on the market to buy or lease, with rents asking about $20 per square foot plus triple net, Rich said.

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Benderson has been busy scooping up shuttered Toys “R” Us buildings. Just this week it paid $6.5 million for a former Toy “R” Us building in Palm Beach Gardens.

Earlier this year, it made one of the highest offers for a Toys “R” Us store when it outbid Federal Realty with a $15.6 million offer to acquire a store in Emeryville, California. It has since leased the space to the French sporting goods retailer Decathlon Group, according to its website.

The firm has also picked up a former Toys “R” Us store in North Miami Beach for $1.5 million and another in Amherst, New York, for $110,000.

Properties in the Doral area have been trading recently. Last week, San Ignacio University purchased a vacant plot of land nearby for $8.9 million. The week prior to that, Simon Property Group sold 8.4 acres of land next to its Miami International Mall for $8.2 million.