One Of The Oldest Churches In Miami-Dade County Sells
The buyer plans to adapt the property into restaurant, retail and office space.
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The buyer plans to adapt the property into restaurant, retail and office space.
The three-building, nearly 600,000-square-foot Class-A industrial park is 72% preleased and on schedule to be delivered in the third quarter of 2021.
The team completed some of Broward County’s largest deals in 2020 with 36 transactions totaling 259,765 square feet of leases.
Subway spokeswoman Maggie Truax said the new Miami office would house about 100 existing and new employees.
The property totals a combined 94,175 square feet.
The new fund will focus on properties valued at more than $50 million and priced below replacement cost.
The building, which is situated on .16 acres, is located in close proximity to Broward General Medical Center and the new Broward County Courthouse.
The site was purchased from Esposito Enterprises Inc., an affiliate of Vinny Esposito, the owner of the staple restaurant Franco & Vinny’s, which will continue to operate on property. There are no current plans underway for redevelopment of the site.
The buyer is one of the largest retail beauty products, wig and human hair extension suppliers in the United States. It owns and operates 22 retail locations throughout the South Florida tri-county area and Tampa.
The purchase price was $17 million.
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