Elysee Investments Acquires Blue Lagoon Shoppes in Miami for $28 Million

Elysee Investments has completed the acquisition of Blue Lagoon Shoppes, a 29,205-square-foot retail center situated within Miami's Waterford Business District, for $28 million. The property, located at 1101 Northwest 57th Avenue, was sold by Keystone Holdings Group, which developed the asset in 2021. The transaction was facilitated by Mario Borda of Borda Commercial Real Estate representing the buyer, while Avison Young's John K. Crotty, David Duckworth, and Brian C. de la Fé represented the seller.

Blue Lagoon Shoppes is fully leased with 13 tenants, including national brands such as Starbucks, Chipotle, Panera Bread, and BankUnited. The center's strategic location, just south of Miami International Airport and within a 250-acre business district housing major corporate headquarters, underscores its appeal. According to Avison Young's de la Fé, the strongest retail investments combine essential-service tenancy with irreplaceable locations, a criteria met by this property's national-credit tenant roster and full occupancy. This acquisition highlights continued investor confidence in well-positioned, income-generating retail assets in the South Florida market.