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Limestone-Led Team Offloads Pinecrest Mixed-Use Center
Limestone Asset Management and joint venture partner Orion Real Estate Group sold the Pinecrest Town Center, a mixed-use retail and office property in Miami-Dade County, Florida, for $42.5 million. The sellers were represented by Eric Williams with Newmark. Limestone Asset Management purchased the property in March 2021 for $32 million.
The property is located at 12651 South Dixie Highway, Pinecrest, FL 33156. The entire site encompasses 228,355 square feet of land and 435 feet of frontage along South Dixie Highway. It includes a 4-story office building.
Built in 1985, the property previously underwent renovations in 1994 and 2004. Limestone Asset Management and Orion Real Estate Group performed an extensive, nearly $6 million renovation and improvement on the property, which was completed in February 2024.
It is now around 90% occupied. The tenant mix includes Sage Dental, Coldwell Banker and F45 Training, as well as local food and beverage purveyors such as Anacapri Italian Restaurant, Roasters ‘N Toasters, and Sea Siam Thai & Japanese Restaurant.
- ◦Sale/Acquisition
