P
inecrest Town Center, a mixed‑use retail and office complex at 12651 South Dixie Highway in Miami‑Dade County, sold for $42.5 million to a joint venture between Limestone Asset Management and Orion Real Estate Group. The transaction followed a full renovation completed in early 2024, with Eric Williams of Newmark acting as seller’s broker.

    The property sits on 228,355 sq ft of land, fronts 435 ft of South Dixie Highway, and contains a four‑story office tower. Limestone acquired the site in March 2021 for $32 million and invested nearly $6 million in upgrades, including new facades, storefronts, impact‑resistant windows, enhanced lighting, and rooftop parking. The building, originally constructed in 1985, had prior updates in 1994 and 2004.

    Currently about 90 % of the space is leased to a mix of national and local tenants: Sage Dental, Coldwell Banker, F45 Training, Anacapri Italian Restaurant, Roasters N Toasters, and Sea Siam Thai & Japanese Restaurant.

    Chairman Ibrahim Al Rashid noted that the recent $6 million renovation has refreshed the property in one of Miami‑Dade’s most vibrant, family‑oriented communities, and he is pleased to hand it over to a reputable buyer who will preserve its appeal.

    Pinecrest, a suburban municipality with a 2020 Census population of 18,388, is known for large residential lots and high home prices—most listings exceed $1 million, well above the county median.