SVNCR’S Kattan, Peragine Represent Seller In Allapattah Industrial Sale To Rubell Family
The property was the former headquarters of the family-owned and operated Rex Discount.
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The property was the former headquarters of the family-owned and operated Rex Discount.
The 15-unit waterfront condo is centrally located in North Bay Village.
Berger Commercial Realty/Corfac International Managing Director-Palm Beach County Michael Feuerman, Esq., SIOR, CCIM and Sales Associate Daniel Silver, along with Matt Sultenfuss, SIOR, Managing Partner at Tampa-based Avocat Group, negotiated the deal on behalf of the tenant.
The company announced the start of the 501,224-square-foot speculative development at 10300 NW 121st Way in Medley in May 2021. The building is now 100 percent leased.
The final sale price was $22 million, equating to $155 per square foot.
The property was listed at $4,950,000 and within days, multiple full price offers were received – some over list price. The property closed within 0.5% of list price and a sub 5% capitalization rate.
The Miami space serves as the firm’s second office location.
This marks the fourth time winning this prestigious honor from NAIOP’s South Florida Chapter in the past six years.
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As Miami Beach continues to experience business migration and the return of international visitors, the Lincoln Road District reports drawing over 7.8 million visits over the past year, demonstrating a strong post-pandemic recovery in foot traffic.
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