Benderson buys shuttered Toys “R” Us store in Doral

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

Dec.December 05, 2018 12:50 PM

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.

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.

Related Articles

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

Daily Digest Miami

Palm Beach estate hits market for $110M, Gulfstream Park bets on $20M renovation

Riverstone Capital Group founder Jorge Portela and Shoppes of Forest Hill at 4316-4450 Forest Hill Boulevard (Credit: Google Maps)

Walmart-anchored shopping center in WPB sells for $20M

Shoppes at the Lexi with Kirk Olson and Drew Kristol

Latvian investor buys North Bay Village shopping center

Rendering of Doral Square and David Martin

Terra unveils latest mixed-use project near Downtown Doral

18901 Southwest 106th Avenue, MMG Equity Partners CEO Gabriel Navarro (Credit: Google Maps)

MMG Equity Partners picks up retail center in Cutler Bay

Rendering of the Plaza Coral Gables

Pinstripes bowling alley inks lease at The Plaza Coral Gables

Walgreens at 3200 South Federal Highway

Walgreens sells Delray Beach store on Federal Highway