Aztec Group Closes $12.5 Million Wynwood Sale

Aztec Group’s Charles Penan, Director, and Howard Taft, Senior Managing Director, have arranged the $12.5 million sale of 2050 N Miami Ave. in Miami’s Wynwood neighborhood.
Aztec Group represented both the buyer and the seller in the transaction.
The property consists of a 19,464-square-foot industrial/flex building ideally located at the Southern gateway to the Wynwood Arts District.  The property’s strategic location will be a catalyst for the development of the neighborhood.  The 1.033-acre site has over 180 feet of frontage along North Miami Avenue.
 

“Achieving one of the highest recorded prices of land for a parcel this large in Wynwood is a major accomplishment,” said Aztec Group Director Charles Penan. “This was an off-market transaction initiated by the buyer’s desire to be in this dynamic neighborhood.”

The Wynwood Arts District, formerly Miami’s Garment/Fashion District, is witnessing a bona fide transformation with major residential, retail and office properties under development.  Vogue Magazine rated Wynwood ninth in its 2014 list of “Coolest Neighborhoods in the World.” Wynwood is home to some of Miami’s most cutting-edge restaurants, galleries, and unique boutiques.
 

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