Elysee Investments Buys Shopping Center Near Waterford Business District for $28M

Elysee Investments paid $28 million for a relatively new, fully leased shopping center near Miami’s Waterford Business District.

Called Blue Lagoon Shoppes, the 29,205-square-foot property at 1101 Northwest 57th Avenue sits inside the business district, just south of Miami International Airport. The 250-acre Waterford Business District is home to the headquarters of major companies such as Burger King, Subway and Lennar Homes. 

Blue Lagoon Shoppes’ 13 tenants include Starbucks, Chipotle, Panera Bread, Jersey Mike’s, BankUnited and Panda Express. Mario Borda of Borda Commercial Real Estate represented Elysee Investments, while Avison Young’s John K. Crotty, David Duckworth and Brian C. de la Fé represented the seller, Keystone Holdings Group.

“The strongest-performing retail investments today are the ones that combine essential-service tenancy with irreplaceable locations,” Avison Young’s de la Fé said in a statement. “Blue Lagoon Shoppes delivers both through its national-credit tenant roster, full occupancy and strong location.”

Keystone Holdings Group completed the 2.4-acre asset in 2021. 

Elysee Investments specializes in retail properties in Miami-Dade and Broward counties. In 2024, the investor bought a 6.7-acre, grocery store-anchored property in Aventura for $48 million. 

Representatives for Elysee Investments and Keystone Holdings Group did not immediately respond to  requests for comment. 

Julia Echikson can be reached at jechikson@commercialobserver.com.