Limestone Asset Management and Orion Real Estate Group, closed on Colonial Palms Plaza, located in the Pinecrest area at 13601–13621 S Dixie Highway, Miami, FL, 33176, for $70.5 million via a joint venture. The purchase reflects Limestone and Orion's expansion in Pinecrest, a suburban village in Miami-Dade County, located south of downtown Miami and Miami International Airport.
The 188,389 square-foot property encompasses seven buildings and 29 tenants, including Marshalls, HomeGoods, PetSmart, Old Navy, Party City, Five Below, Visionworks, CycleBar, Panera Bread, Miller's Ale House, and more.
Eric Williams of JLL represented the seller, MetLife Investment Management. Goldman Sachs is providing financing for the purchase.
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