Brookfield sues to evict Irving Padron’s Submarket Realty from Merrick Park

It’s the second Merrick Park tenant that Brookfield is seeking to evict

TRD MIAMI /
Jul.July 23, 2020 03:30 PM
From left: Brian Kingston, Irving Padron and Merrick Park

From left: Brian Kingston, Irving Padron and Merrick Park

Brookfield Properties is suing to evict Irving Padron’s Submarket Realty from the Shops at Merrick Park, alleging the brokerage owes $94,218 in unpaid rent.

In the suit, filed earlier this month in Miami-Dade Circuit Court, Brookfield alleges that Submarket Realty is in default of its obligations, and Brookfield wants to take possession of the space. Engel & Völkers this month cut ties with Padron — the former managing broker and license partner Engel & Völkers Miami — and Submarket Realty, which was doing business as Engel & Völkers Miami Coral Gables.

According to the suit, Submarket Realty entered into a five-year lease on its 3,451-square-foot office on July 26, 2019, paying $10,065 in rent per month. In February, Brookfield sent Submarket Realty a notice of default, claiming the brokerage owed $12,705 in unpaid rent. On July 1, Brookfield’s lawyer sent an eviction notice alleging the company owed $70,929 in unpaid rent, according to the suit.

“We have been in amicable negotiations for months with Merrick Park’s management, similar to many tenants during these uncertain times. Recently we were offered a deferral of rent for several months due to Covid,” Padron said in a statement emailed to The Real Deal. “We look forward to reaching a resolution with Merrick Park’s management.”

It’s the second tenant that Brookfield has sued to evict from Merrick Park during the pandemic. In June, the New York-based real estate investment firm filed a lawsuit seeking to evict the Diane Von Furstenberg store, alleging it owes over $200,000 in unpaid rent.

Padron has been sued before for allegedly defaulting on payments. He was sued in 2018 by a former business partner who alleged that Padron reneged on a $285,000 payment connected to his purchase of another brokerage. Padron denied the allegations in court filings.

The Merrick Park lawsuit joins other retail eviction suits filed in South Florida during the pandemic. Last month, Sam Herzberg sued to evict Diesel USA and Perry Ellis’ Original Penguin from the Sterling Building on Lincoln Road for failing to pay rent in April and May.

In May, Berkowitz Development Group sued Petsmart to evict the pet store chain from stores at Dadeland Station and Aventura Commons.

Brookfied in May said it planned to inject $5 billion into major retail companies hit hard by the pandemic. Yet, the Financial Times reported that Brookfield is forcing smaller retailers to pay thousands of dollars in rent on locations that had to shut down due to the pandemic, while at the same time skipping payments on its mortgages and asking lenders for forbearance.


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