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Florida & Gulf Coast  + Miami + South Florida + Texas  + Retail  |  October 23, 2023
Miami's Trail Plaza sells for $49.2m
Mike Boyd
By: Mike Boyd

Miami Retail Center Fetches $49.2M

A retail center on 17 acres near West Miami was sold for $49.2 million. The 181,000-square-foot center is anchored by Southwestern Grocers’ Fresco y Mas grocery store. Trail Plaza sold for $271 a square foot. It’s the first time the center, built in 1987, has sold.

Metropolitan Life Insurance Co. sold the shopping center at 1144 S.W. 67th Ave. to Longpoint Realty Partners. CBRE’s Casey Rosen and Dennis Carson represented the seller in the deal.

The shopping center is 99% occupied. In addition to anchor tenant Fresco y Mas, the roster includes Walgreens, Harbor Freight Tools and Party Depot.

Boston-based Longpoint touts on its website that they transform underperforming retail and industrial properties to meet modern demand, bringing vibrant places and relevant services to our neighborhoods. 

Read More News Stories About: CBRE
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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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