Tropical Park Plaza

Tropical Park Plaza is a premier shopping center that C-REV acquired in February 2022 after years of pursuing its previous owners. When the owners decided to sell, C-REV was able to secure the asset off-market, preventing what would likely have been a competitive bidding war for this highly coveted property. With direct frontage on one of Miami-Dade’s most recognized and heavily traveled streets, located in a densely populated suburban area, Tropical Park Plaza presented an exceptional acquisition opportunity.

The previous ownership group had developed and operated the center for 39 years. C-REV quickly identified several value-add opportunities and leveraged its extensive managerial and operational experience, along with deep market knowledge, to enhance the asset's value.

Since acquiring this top-tier property, C-REV has increased income by $501,651 through renegotiating old and expired leases, bringing rents up to market rates, and attracting new tenants. This strategic approach has resulted in significant returns for partners.

By purchasing the property at a reasonable price and capitalizing on these value-add opportunities, the market value has appreciated from the purchase price of $25,250,000 to its current value of $31,000,000. Properties of this caliber in such highly sought-after markets are rare, but due to C-REV’s strong market presence and reputation for performance, the team successfully secured this asset.