A sale in Miami’s Design District that closed Wednesday would set a record price for the last four years and marks the entry of a new large player into the neighborhood, the Daily Business Review learned.

Chicago-based L3 Capital LLC closed on 3800 NE Miami Court, a 22,248-square-foot, two-story retail building custom built in 2011 for a high-end furniture showroom. A broker involved in the transaction said the $26 million deal values the building at $1,168 per square foot.