Rooms To Go has acquired two retail buildings in Kendall, Florida, with plans to redevelop the site into one of its largest furniture showrooms. The company’s vice president, Peter Weitzner, told The Real Deal: “It’s a brand new prototype. We are going to demolish what is there and build a huge Rooms To Go store.”
The purchase was made by an affiliate of Rooms To Go, which is based in Seffner, Florida and led by CEO Jeffrey Seaman. The company paid $29.9 million for the 55,824-square-foot property at 2405 Southwest 88th Street, according to public records and real estate database Vizzda. This translates to approximately $535 per square foot.
The previous owner, an affiliate of Light Properties from Lawrence, New York, bought the 3.8-acre site for $12 million in 1998. The buildings were completed in 1996 and had been leased to Michaels and Barnes & Noble but are currently vacant.
In January, Miami-Dade County approved plans submitted by Rooms To Go to replace the existing structures with a new 51,662-square-foot showroom. According to Weitzner, this location will be among the retailer’s new superstores and will include sections for Rooms To Go Kids and Rooms To Go Patio. Most existing stores average around 40,000 square feet.
Construction is expected to begin next year with an anticipated opening in 2027. Rooms To Go was founded in 1990 and now operates more than 150 stores across ten states.
South Florida’s retail market has seen several notable big box property transactions this year. In January, RK Centers purchased a single-story facility in Pembroke Pines for $15.2 million; City Furniture continues as a tenant under a long-term lease. In June, Simon Property Group bought a ground lease at Dadeland Mall for $15.6 million on a building leased to JCPenney; Simon also owns the Kendall shopping center and acquired a closed Sears store within Town Center at Boca Raton for $23 million that same month. EOS Wellness Real Estate Miami LLC purchased a vacant former Office Depot building in Miami Beach’s Sunset Harbour neighborhood for $28.5 million during June as well.
