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Scott Sandelin, an investment specialist in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a partnership between MMG Equity Partners, Mouhalis Capital Management, and GW Properties. Sandelin also procured the buyer.
The foreclosure auction is set for July 2.
The groundbreaking venue, blending the worlds of automotive elegance and gourmet dining, is set to open its doors between late 2024 and early 2025.
He will be responsible for the firm’s Miami, Fort Lauderdale, Boca Raton, and West Palm Beach markets and oversee more than 450 professionals across the South Florida region.
Devin White with CBRE Industrial & Logistics will be leading marketing efforts.
The initial phase of the project includes the construction of a 200,000-square-foot building, with plans for two additional buildings to follow. This phase can accommodate tenants seeking spaces as small as 50,000 square feet.
The multifamily property is located to the east of Biscayne Boulevard, making it one of the few rental buildings located east of US-1. Additionally, Florida International University’s Biscayne Bay Campus is within walking distance, and the property is near several mixed-use developments in the area.
This move comes as the company has quickly expanded its presence nationally and needed a larger office space to accommodate its continued growth. Basis currently has 35 employees, up from just three in December 2020.
This team will be an extension of both Franklin Street’s Investment Sales and Insurance brokerage verticals dedicated to South Florida.
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