RK Centers Buys North Miami Arena Shops Plaza

The retail plaza at 14750 Biscayne Boulevard sold for $32.5 million in a recent commercial transaction.

Updated on Oct. 30, 2026 in Commercial

Modern white concrete commercial retail plaza in coastal Florida with palm trees, captured under bright, clear daylight. — RK Centers purchased the North Miami retail hub at 14750 Biscayne Boulevard for $32.5 million, marking a significant asset appreciation. AI Illustration. Upload story photo >

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RK Centers has acquired the Arena Shops retail center in North Miami for $32.5 million. The 2.5-acre property features a 44,660-square-foot plaza that currently hosts tenants including Total Wine & More, Chipotle Mexican Grill, and T-Mobile.

Why it matters

This transaction reflects the continued movement of commercial assets in the region, with the property selling for significantly more than its previous purchase price a decade ago.

The property includes a 44,660-square-foot facility on a 2.5-acre site, reflecting a purchase price of approximately $728 per square foot. The building was originally constructed in 1993 and underwent renovations in 2006.

The players

RK Centers

A commercial real estate investment firm headquartered in Sunny Isles Beach.

Edens

The previous owner of the Arena Shops that acquired the property in 2012.

The details

Located at 14750 Biscayne Boulevard, the shopping center remains a high-profile retail hub in North Miami. The previous owner, Edens, acquired the site for $25 million in June 2012 before its recent sale to the Sunny Isles Beach-based firm.

The Arena Shops were originally constructed in 1993.
The shopping center underwent a renovation in 2006.
Edens purchased the property for $25 million in June 2012.
RK Centers finalized the purchase of the plaza in October 2026.

Culture Shift

This acquisition occurs within a competitive Northeast Miami-Dade commercial market currently seeing a 3.8 percent vacancy rate. The deal highlights a trend of rising valuations for prime retail real estate compared to the regional market benchmarks.

Shoppers visiting the plaza can expect operations to continue under the new ownership, with current tenants like Chipotle and Total Wine & More remaining in place. The sale likely indicates a stable future for the retail hub as it remains a key destination for local consumers.

The takeaway

Commercial real estate investors continue to place high value on established retail centers with well-known national tenants. Residents should keep an eye on potential future renovations as new management takes control of the local shopping plaza.