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Flo Rida And His Firm Purchased Retail Plaza For $10M

AllHipHop

Flo Rida & His Firm Reportedly Purchase Retail Plaza In Miami Gardens For $10 Million

Flo Rida
By: Kershaw St. JawnsonCategory: News

The artist shows how he has moved from music to building business.

Rapper-turned-businessman Flo Rida is expanding his entrepreneurial fingerprint.

The chart-topper and his firm have purchased the Cloverleaf Shopping Plaza in Miami Gardens, dropping a whopping $10 million on the property, according to the South Florida Business Journal.

LoopNet reports the rapper got it at a steal, as the original asking price was $14.5 million.

Real estate broker David Heinrich said Flo Rida’s team got a deal considering most of the tenants have had a substantial history in the plaza. Ninety-percent of the tenants have been renting stores there for more than 30 years, which might pose an issue. The former owner had offered the tenants rent far below market value and hasn’t raised the rent on the tenant in years. It’s yet to be seen if Flo Rida’s team will come in and boost the prices on the almost two-acre property.

The Cloverleaf Plaza is across the street from Miami Gardens Square Shopping Mall, one of the most high-trafficked areas on Miami Gardens Drive and US 441.

This marks the second big move Flo Rida has made in the last two months. His JettSet1 Enterprises partnered with Biom Therapeutics to purchase the first cannabinoid-derived company to help research rare childhood diseases like Angelman Syndrome.

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Flo Rida recently settled a lawsuit with energy drink company Celsius for $82 million. In February 2023, Flo Rida gave a substantial portion to youth programming and kids’ charities, including Big Dreams For Kids and a youth football league.