The Miami-based firm behind Aventura Plaza has added another South Florida shopping center to its holdings, paying $28 million for a retail strip near Miami International Airport.

Elysee Investment Co. purchased Blue Lagoon Shoppes, a 29,205-square-foot center at 1101 NW 57th Ave. in Miami's Waterford Business District, from Keystone Holdings Group,Bisnowreported in a Sept. 28 deal sheet. The sale price works out to roughly $959 per square foot.

Portfolio connections to Aventura

The deal matters locally because Elysee, led by CEO Haim Yehezkel, already owns Aventura Plaza at 17985 Biscayne Blvd. The firm paid $48 million for that 6.7-acre property in February 2024, according toThe Real Deal. At the time, the plaza's retail space was 92 percent leased, with Plum Market and Ace Hardware as anchors.

Aventura Plaza includes 66,329 square feet of retail and a two-story, 23,554-square-foot office building. Yehezkel co-founded Elysee with Avi Dishi, and the pair financed the Aventura purchase partly through $26.4 million in seller financing from the previous owner, an entity tied to the Klompus family of Sunny Isles Beach. That loan matures around February 2029.

Tenant lineup and market strength

Blue Lagoon Shoppes, built in 2021, counts Starbucks, Chipotle, Panera Bread, Jersey Mike's, BankUnited and Panda Express among its 13 tenants. The center is fully leased. Avison Young's Michael Fay, John Crotty, David Duckworth and Brian de la Fé represented the seller. Mario Borda of Borda Commercial Real Estate represented Elysee.

"The strongest-performing retail investments today are the ones that combine essential-service tenancy with irreplaceable locations," de la Fé said in a statement about the sale, as reported byRealtyToday.

Market context and current status

The purchases fit a tightening South Florida retail market. Miami-Dade County's retail vacancy fell to 3 percent in the second quarter of 2026, the lowest in the region, with asking rents climbing 2.6 percent to $42.50 per square foot, according to a Colliers report cited byThe Real Deal.

Elysee has not publicly announced plans for Aventura Plaza since buying it in February 2024, and no tenant changes or redevelopment filings have surfaced. Neither Elysee nor Keystone responded to press inquiries about the Blue Lagoon deal,RealtyTodayreported.