Sandals Resorts Affiliate Relocates And Expands, Signs 53K SF Office Lease
The new, long-term lease brings the 212,619-square-foot building to 100% leased and marks Unique Vacations’ relocation and expansion.
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The new, long-term lease brings the 212,619-square-foot building to 100% leased and marks Unique Vacations’ relocation and expansion.
The fully-occupied retail plaza features 138 feet of frontage along North State Rd 7 (US Highway 441), benefiting from a daily traffic count of over 52,000 vehicles.
Formerly an industrial building, the stand-alone property has been fully converted for office and restaurant use and features a rooftop terrace.
This transaction underscores a paradigm shift in rates and market fundamentals and sets a new bar for the Miami office market.
“The Buyer plans to make capital improvements to the property,” explained Thiel. “These small bay warehouses/apartment properties are rare and great investments to have in today’s market.”
Larry Genet and Tom O’Loughlin with CBRE represented Industrial Outdoor Ventures in both the purchase and lease of the property.
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Executive Managing Director Mark M. Rubin and Director Bastian Laggerbauer of Colliers | South Florida Investment Services Team represented the seller in the transaction.
Jaime Sturgis-led firm’s recent closings include office, retail and industrial property sales.
Eichholtz’s lease marks its first branded flagship location in Miami.
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