“This is truly a full-circle moment for me,” said Rodriguez. “To think I was part of the original industrial team that helped with the land assemblage, marketing, and leasing of Kurv’s first Miami-Dade assets more than a decade ago, to now leading the firm’s Miami market, I feel like I’ve come home.”
At approximately $90,000 per unit, the site’s per-unit pricing is the highest ever paid for a South Miami development site.
River Landing remains one of the only mixed-use developments in Miami accessible by car, train, bike, and boat.
The sale marks a nearly 490% gain in value over 14 years. The property last sold in 2012 for $3.9 million.
The building, which dropped to a low of 62% leased during the pandemic, now stands at 97% occupied with a diversified tenant roster comprising 43 tenants in 15 distinct industries.
The plaza sits on more than 10 acres. The property was 89% leased at the time of sale.
The partnership plans to invest more than $30 million to upgrade and renovate the portfolio with completion expected in 2027.
The project will include more than 120,000 square feet of Class A office space, along with over 11,000 square feet of ground-floor retail.
The transaction was led by NAI Miami’s Robert Eckstein and Craig Merlin, who represented the landlord.
The tenant is Sola Salon Studios, the country’s largest salon suite franchise, with more than 740 locations across the U.S. and Canada.