Elysee Investments Purchased Blue Lagoon Shoppes
The firm acquired the 2.4-acre shopping center near Miami International Airport for $28 million.
Updated on Sept. 28, 2026 in Commercial
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Elysee Investments has closed on the Blue Lagoon Shoppes, a 29,205-square-foot retail center located at 1101 Northwest 57th Avenue. The property sits just south of Miami International Airport and the Waterford Business District.
Why it matters
The acquisition marks another significant move for Elysee Investments in the regional commercial market following its 2024 expansion. With 13 tenants currently occupying the space, the asset remains fully leased as it changes hands.
The transaction for the 29,205-square-foot center closed at $28 million. This follows the firm's $48 million purchase of a 6.7-acre property in Aventura in 2024.
The players
Elysee Investments
The investment firm that acquired the Blue Lagoon Shoppes.
Keystone Holdings Group
The developer that completed the shopping center in 2021.
Mario Borda
The real estate professional from Borda Commercial Real Estate who represented the buyer.
John K. Crotty
An Avison Young representative who brokered the sale for the seller.
The details
Keystone Holdings Group, which completed the center in 2021, sold the asset to Elysee Investments this September. Mario Borda of Borda Commercial Real Estate represented the buyer, while John K. Crotty, David Duckworth, and Brian C. de la Fé of Avison Young represented the seller. The 13 existing tenants are expected to continue operations as the center remains fully leased.
Timeline
2021: Keystone Holdings Group finished the construction of the property.
2024: Elysee Investments acquired a property located in Aventura.
September 28, 2026: Elysee Investments completed the purchase of the shopping center.
Beyond the 305
The sale reflects the broader 2024 commercial real estate acquisition activity in South Florida as firms look to secure assets in established business corridors. This purchase follows that investment pattern, specifically targeting high-utility properties near major logistics hubs.
The shopping center remains fully leased, meaning current tenants and their customers will see no immediate change in site operations. The change in ownership is a financial transaction that does not alter the existing commercial presence at 1101 Northwest 57th Avenue.
The takeaway
Commercial real estate investors continue to target properties near major transit and business nodes in the 305. Watch the occupancy levels at this center in the coming year to see if the new ownership implements any changes to the existing tenant mix.
Further reading
For more on shifts in the local retail market, visit Commercial.
Source note: This article includes information reported by Commercial Observer.
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