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RK Centers Acquires Best Buy Property in Doral

By CIOReview | Tuesday, October 20, 2020

RK Centers announces the acquisition of the Best Buy Doral property for continuing the commitment to South Florida.

FREMONT, CA: Continuing their commitment to South Florida, RK Centers announces the acquisition of the Best Buy Doral property nested at 10760 NW 17th St., Doral. The acquisition price for the 45,675 square foot infrastructure was $20.4 million. The site comprises of 4.23 acres. Roberto Susi represented the seller, and the buyer by Jose Sasson-Lerner, both of them are with Axiom Capital Advisors. The location of this asset, combined with the presence of a robust national tenant like Best Buy, made this both a special and desirable property for us to acquire.

During 2019, RK finished over $100 million in acquisitions, investing in seven latest properties totaling just under 500,000 square feet, primarily open-air local and community shopping centers in South Florida and New England. In addition to this recent South Florida deal, RK Centers welcomed a new Burlington to its 280,000 square foot RK California Club Center at 850 Ives Dairy Road in North Miami. The retail plaza established one-half mile west of I-95 is home to an attractive mixture of tenants, including Winn-Dixie,  CVS, Dollar Tree, Citi Trends, Planet Fitness, and many others. There is 26,800 square feet of the area available at the center.

RK Centers is a privately held real estate development firm that owns and manages more than 9 million square feet of commercial retail space, primarily open-air local and community shopping centers in New England and South Florida. With reduced leverage, the company closes on acquisitions within 30 days with its capitals. With over 35 years of experience in real estate, RK Centers has a proven track record of success with customers, tenants, and communities with all leasing and management operations performed in-house.