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News And Press

25 Nov

Procacci Sells 14.6-Acre Parcel To IKEA

CRE - South Florida Sources

Procacci Development Corporation sold a 14.6-acre parcel fronting Florida’s Turnpike next door to the Dolphin Mall in Sweetwater to Swedish home furnishings retailer IKEA.


The deal for the parcel, located on NW 117th Avenue at the intersection of the Dolphin Expressway and Florida’s Turnpike, closed November 14 with a purchase price of $31.5 million.


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22 Aug

CONSHOHOCKEN, PA – IKEA, the world’s leading home furnishings retailer, today announced it is submitting plans for a Miami-Dade store in the City of Sweetwater, Florida as the second South Florida IKEA store and fourth in the state. Pending approvals, construction of IKEA Miami could begin as early as Spring 2013, with an opening as early as Fall 2014. Until then, customers can shop at Broward County’s IKEA Sunrise or online at IKEA-USA.com. (The two other IKEA stores in Florida are located in Orlando and Tampa.)

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18 Jan

Procacci Development Corporation (PDC), which has secured $87 million, is looking for acquisitions. The company has secured funds in order to improve its debt structure and provide financing for new acquisition and development opportunities. CEO of PDC, Philip J. Procacci said, “Continued expansion in the current economy mandates that we improve our financial position with our debt structure and position ourselves to have the resources on hand to capitalize on opportunities as they emerge. With the refinancing and credit line, we have the capital and liquidity to put us in a strong and nimble position if or when Read more…


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