‘Three amigos’ buy former Target site in Lauderhill

Partnership of Doron Valero, Gabriel Navarro, and Roberto Suris Jr. pays $9M for 13.7-acre property

Miami /
Dec.December 28, 2018 11:30 AM

7730 West Commercial Boulevard and Gabriel Navarro

A group of investors just purchased a former Target in Lauderhill for $9 million. The deal come on the heels of the retailer announcing plans to close a dozen of its stores nationwide.

The 174,193-square-foot store at 7730 West Commercial Boulevard closed in February, as the sole store in South Florida to close. Other stores were in Illinois, Michigan and Minnesota, among other locations. In statement at the time, Target said it’s focusing on opening smaller stores.

The buyer, Three Amigos Lauderhill LLC, is led by Doron Valero of Global Fund Investments; Gabriel Navarro of MMG Equity Partners; and Roberto Suris Jr. of Estate Investment Group.

The deal gives the partners control of 13.7 acres of land on the southwest corner of West Commercial Boulevard and Northwest 76th Avenue. Records show Target Corp. paid $4.6 million for the site in 2000.

Suzanne Washburn at CBRE and Alan Esquenazi at CREC represented Target in the sale of the property.

Target joins a list of big-box merchants that have announced they will shutter some or all of their stores, including Sports Authority and Gander Mountain. Other retailers include Toys “R” Us, Sears, HH Gregg, Claire’s Stores and more recently, Mattress Firm.


Related Articles

arrow_forward_ios
Marela Apartments in Pembroke Pines (Marela)
RREEF buys Pembroke Pines apartments for $121M
RREEF buys Pembroke Pines apartments for $121M
The current Miami Beach North Shore library with Mayor Dan Gelber (Google Maps, Gelber)
Miami Beach seeks buyers for city-owned development sites
Miami Beach seeks buyers for city-owned development sites
Developer David Edelstein and Robert Levine of RAL Development with the project (Getty, RAL)
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
(Facebook via Golfview Flats)
Snow Real Estate buys Sunrise apartments for $15M
Snow Real Estate buys Sunrise apartments for $15M
South Florida’s industrial real estate market experienced strong leasing activity, low vacancy rates and asking rent hikes (Getty)
South Florida industrial sector keeps beating pandemic odds, Q2 report shows
South Florida industrial sector keeps beating pandemic odds, Q2 report shows
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...