Joint venture partners acquire retail component of Downtown Dadeland
The Miami Herald
by: Ina Paiva Cordle firstname.lastname@example.org
A joint venture between Duncan Hillsley Capital and Pebb Capital said Thursday that it has partnered with Canyon Capital Realty Advisors to acquire the retail component of Downtown Dadeland, a 127,000 square foot shopping and dining destination located across Kendall Drive from Dadeland Mall. The purchase price was $38.9 million, the companies said.Continental Real Estate Companies said it has been engaged to spearhead leasing and property management for the property, as the new owners transform it into a lifestyle destination.Completed in 2009, Downtown Dadeland’s current occupancy stands at 71 percent, with tenants including West Elm, Chili’s Bar & Grill, Men’s Wearhouse and Panera Bread.