{"id":1004766061,"date":"2025-07-24T07:26:34","date_gmt":"2025-07-24T15:26:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004766061"},"modified":"2025-07-24T07:26:35","modified_gmt":"2025-07-24T15:26:35","slug":"rk-centers-lands-34m-for-miami-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/","title":{"rendered":"RK Centers Lands $34M for Miami Retail Center"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004766063\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/rk-causeway-plaza-in-north-miami-fla-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"RK Causeway Plaza in North Miami, Fla.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg\" alt=\"Exterior shot of RK Causeway Plaza, a 129,000-square-foot retail center in North Miami, Fla.\" class=\"wp-image-1004766063\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><figcaption class=\"wp-element-caption\">The 129,000-square-foot RK Causeway Plaza opened in 1970. <em>Image courtesy of Yardi Research Data<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>RK Centers has received a $34 million refinancing loan for RK Causeway Plaza, a 129,000-square-foot shopping center in North Miami, Fla., according to Yardi Research Data. Bank of America issued the note.&nbsp;<\/p>\n\n\n\n<p>The retail property was previously subject to a $15.3 million loan originated by Sovereign Bank in 2012, the same source shows. RK Causeway Plaza has been under RK Centers\u2019 ownership since 2003, when the company purchased it for $14.9 million.\u00a0<\/p>\n\n\n\n<p>Completed in 1970 at 12101 Biscayne Blvd., the shopping center comprises three buildings across a 9-acre site. Anchored by T.J. Maxx and shadow-anchored by The Home Depot and Whole Foods Market, Causeway Plaza features a diverse mix of tenants including Denny\u2019s, Steve\u2019s Pizza, Ross Dress for Less, Walgreens Pharmacy, OfficeMax and Five Below. The property is near Interstate 95, which connects the retail center to downtown Miami, some 12 miles south.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-miami-s-retail-market-still-shines\">Miami&#8217;s retail market still shines<\/h2>\n\n\n\n<p>Miami&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/retail-market-trends\/\">retail market trends<\/a> indicate an upward trajectory across several metrics, with fundamentals on the side of landlords.<\/p>\n\n\n\n<p>The metro outperformed in terms of rent growth, with the average up 3.3 percent year-over-year as of the second quarter, while the national average improved 2.3 percent, according to a Cushman &amp; Wakefield report.\u00a0Rents averaged $43.17 per square foot, well above the national $24.99 per square foot.<\/p>\n\n\n\n<p>The market&#8217;s vacancy rate, while up quarter-over-quarter by 10 basis points, still clocked in at a relatively tight 3.2 percent in the second quarter.\u00a0By comparison, the U.S. average stood at 5.8 percent.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank of America issued the note.<\/p>\n","protected":false},"author":3619,"featured_media":1004766063,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1492,21742,21749,32781],"tags":[33250],"class_list":["post-1004766061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-miami","category-latest","category-retail","category-southeast","tag-bank-of-america"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RK Centers Lands $34M for Miami Retail Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"RK Centers has received a $34 million refinancing loan from Bank of America for RK Causeway Plaza, a shopping center in North Miami, Fla.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RK Centers Lands $34M for Miami Retail Center\" \/>\n<meta property=\"og:description\" content=\"RK Centers has received a $34 million refinancing loan from Bank of America for RK Causeway Plaza, a shopping center in North Miami, Fla.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-24T15:26:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-24T15:26:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/\",\"name\":\"RK Centers Lands $34M for Miami Retail Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg\",\"datePublished\":\"2025-07-24T15:26:34+00:00\",\"dateModified\":\"2025-07-24T15:26:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df\"},\"description\":\"RK Centers has received a $34 million refinancing loan from Bank of America for RK Causeway Plaza, a shopping center in North Miami, Fla.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg\",\"width\":640,\"height\":480,\"caption\":\"Exterior shot of RK Causeway Plaza, a 129,000-square-foot retail center in North Miami, Fla.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"RK Centers Lands $34M for Miami Retail Center\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df\",\"name\":\"Maria Maruta\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Maria_Maruta.jpeg?w=78\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Maria_Maruta.jpeg?w=78\",\"caption\":\"Maria Maruta\"},\"description\":\"Maria Maruta is an Associate Editor with Multi-Housing News and Commercial Property Executive. Maria completed a Bachelor's in Art History and a Master's in Film Studies at the University of Groningen, The Netherlands. Currently, she writes commercial real estate news, particularly on the office, retail, coworking and self storage sectors. You may reach her at maria.maruta@cpe-mhn.com\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/maria-maruta\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"RK Centers Lands $34M for Miami Retail Center - Commercial Property Executive","description":"RK Centers has received a $34 million refinancing loan from Bank of America for RK Causeway Plaza, a shopping center in North Miami, Fla.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/","og_locale":"en_US","og_type":"article","og_title":"RK Centers Lands $34M for Miami Retail Center","og_description":"RK Centers has received a $34 million refinancing loan from Bank of America for RK Causeway Plaza, a shopping center in North Miami, Fla.","og_url":"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2025-07-24T15:26:34+00:00","article_modified_time":"2025-07-24T15:26:35+00:00","og_image":[{"width":640,"height":480,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg","type":"image\/jpeg"}],"author":"Maria Maruta","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/","url":"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/","name":"RK Centers Lands $34M for Miami Retail Center - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg","datePublished":"2025-07-24T15:26:34+00:00","dateModified":"2025-07-24T15:26:35+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df"},"description":"RK Centers has received a $34 million refinancing loan from Bank of America for RK Causeway Plaza, a shopping center in North Miami, Fla.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg","width":640,"height":480,"caption":"Exterior shot of RK Causeway Plaza, a 129,000-square-foot retail center in North Miami, Fla."},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/rk-centers-lands-34m-for-miami-retail-center\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"RK Centers Lands $34M for Miami Retail Center"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df","name":"Maria Maruta","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Maria_Maruta.jpeg?w=78","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Maria_Maruta.jpeg?w=78","caption":"Maria Maruta"},"description":"Maria Maruta is an Associate Editor with Multi-Housing News and Commercial Property Executive. Maria completed a Bachelor's in Art History and a Master's in Film Studies at the University of Groningen, The Netherlands. Currently, she writes commercial real estate news, particularly on the office, retail, coworking and self storage sectors. You may reach her at maria.maruta@cpe-mhn.com","url":"https:\/\/www.commercialsearch.com\/news\/author\/maria-maruta\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/RK-Causeway-Plaza-in-North-Miami-Fla-edited.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004766061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3619"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004766061"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004766061\/revisions"}],"predecessor-version":[{"id":1004766258,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004766061\/revisions\/1004766258"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004766063"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004766061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004766061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004766061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}