Recent activity across Florida showcases a mix of investment sales, leasing benchmarks and firm-level moves touching retail, medical office, traditional office and senior housing. In Miami, Avison Young brokered the sale of Blue Lagoon Shoppes, a 29,205-square-foot neighborhood shopping center at 1101 NW 57th Avenue. The fully leased property traded for $28 million, with Keystone Holdings Group selling the asset to Elysee Investments in a transaction that underscores continued investor interest in stabilized retail centers.
Avison Young represented Keystone Holdings Group in the disposition, with Principals Michael T. Fay, John K. Crotty, David Duckworth and Brian C. de la Fé advising the seller. On the buy side, Mario Borda of Borda Commercial Real Estate represented Elysee Investments. The presence of dedicated representation for both parties highlights the continued role of intermediary firms in pricing and executing retail trades in the Miami area.
On the medical office front, Flagler MAS AJP, a joint venture between MAS AJP and Flagler Healthcare, completed the $16.3 million sale of MedSquare Port St. Lucie to Anchor Health Properties. Ahead of closing, the joint venture executed a lease expansion with Cleveland Clinic, which committed to occupy the entire 68,000-square-foot Class A medical office development. With a single, well-known healthcare institution taking down 100% of the space, the property was sold as a fully leased, single-tenant medical asset at closing.
Office fundamentals in Miami continue to evolve, according to Savills’ Q3 2026 Miami Office Market Report. The market recorded 1.1 million square feet of leasing activity in the quarter, with Airport West, Brickell, Coral Gables and Downtown capturing the largest share of deals. Average asking rents rose 8.4% year over year to $68.46 per square foot, while Class A rents increased 7.1% to $81.39 per square foot. Savills notes that Miami’s office market is tightening, with expanding tenants and new-to-market occupiers competing for a limited supply of larger, high-quality blocks even as the development pipeline grows.
In the capital markets advisory space, Continuum Advisors, a Tampa-based national senior housing investment sales and advisory firm, expanded its institutional investment sales team. The firm hired David Rieth as Director and promoted Courtney Clyde to Director. Both professionals bring experience working with Blackstone portfolio companies, adding institutional transaction and advisory experience to Continuum Advisors’ senior housing platform.
