Flo Rida Invests $10M in Local Commercial Real Estate
Rapper Flo Rida, born Tramar Lacel Dillard, has made a significant impact on his hometown of Miami Gardens, Florida, with a $10 million investment in the Cloverleaf Plaza.
This purchase, made in partnership with his business manager Lee “Freezy” Prince in 2023, has transformed the shopping center into the first Black-owned plaza in Miami Gardens since its construction in 1955.
The acquisition of Cloverleaf Plaza marks a milestone for Black ownership in commercial real estate. The plaza, situated in a high-traffic area across from Miami Gardens Square Shopping Mall, has become a symbol of progress and opportunity for the local community.
Revitalization and Community Impact
Since taking ownership, Flo Rida has infused new energy into the plaza, positively impacting the local Black business community. The property is home to various businesses, including Cloverleaf Beauty Supply, Creole Kitchen, Boost Mobile, and long-standing establishments like Flowers by Grace, owned by Grace Vernon for 30 years.
Tenants have reported significant improvements under the new ownership. Nicole Ward, owner of Prestige Beauty Salon, noted, “It’s 100 percent better than before; it’s well-kept. We have security guards. Mr. Freezy is constantly in the plaza. So you feel safe.”
Future Plans
The next phase for Cloverleaf Plaza includes exterior renovations, featuring a fresh coat of paint and resurfaced asphalt. These improvements will be carried out while businesses continue to operate as usual. Flo Rida and Prince aim to create a thriving hub for Black entrepreneurs and local businesses.
From Music to Business
Flo Rida’s journey from a successful music career to real estate investment showcases his business acumen. The funds for this investment likely came from his music career and other ventures, including an $82.6 million award from a lawsuit against Celsius Energy Drinks earlier in 2023.
A Vision for the Future
Flo Rida’s investment in Cloverleaf Plaza goes beyond business; it’s a statement about giving back and creating opportunities in the community that shaped him.
“We just thought that this would be a great staple,” he told the Miami Herald. “After purchasing the club, Studio 183 we looked at making an investment, buying the entire plaza.”
As Miami Gardens prepares for the groundbreaking ceremony to renovate Cloverleaf Shopping Plaza, the city stands on the brink of a new era.
This investment not only transforms a local landmark but also sets a powerful example of how success can be used to elevate and inspire communities.
by Tony O. Lawson
Advertise with us
Follow SHOPPE BLACK on Facebook, Instagram & YouTube
The post Flo Rida Invests $10M in Local Commercial Real Estate appeared first on SHOPPE BLACK.
