Midwest CRE Firm Expands Into South Florida With First Acquisition
The Florida City property is a fully leased multi-tenant retail center anchoring a mix of service-oriented businesses.
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The Florida City property is a fully leased multi-tenant retail center anchoring a mix of service-oriented businesses.
The property sits on approximately 7.41 acres and is currently configured as a single-tenant office building.
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The newly acquired assemblage spans multiple properties along North Andrews Avenue, totaling more than 20,000 square feet of existing commercial space.
Botanic Residences is located in West Brickell/Little Havana and will deliver some of the first high-finish condominium product to the market.
Senior Vice Presidents Juan Mendiola and Federico Tunnerman arranged the loan for Ocean Bank.
The move, the Chicago-based firm says, reflects the evolution of its business and operating platform after 25 years.
The mixed-use building is now fully leased.
Originally acquired in 2021, the campus was repositioned through a multi-year strategy to concentrate tenancy, enhance the office assets and unlock a portion of the site for residential development, enabling two distinct paths for value creation.
To accommodate the new tenant, Terreno also reached an agreement for the previous occupant to vacate ahead of its original August 31, 2026 lease expiration.
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