NAI Miami | Fort Lauderdale Successfully Leases 61,000-SF Lot In Doral
The transaction was led by NAI Miami’s Robert Eckstein and Craig Merlin, who represented the landlord.
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The transaction was led by NAI Miami’s Robert Eckstein and Craig Merlin, who represented the landlord.
The tenant is Sola Salon Studios, the country’s largest salon suite franchise, with more than 740 locations across the U.S. and Canada.
The property is currently improved with the Aventura Offices and Medical Center, a two-story office and medical office building totaling about 37,000 square feet.
The deals will keep two buildings fully occupied while extending tenant commitments into 2035.
To qualify, investors must invest $800,000 in capital from a lawful source of funds into the project.
Eric Cantor of Cushman & Wakefield represented the landlord in the transaction. Dean Katz, Adam Bernstein and Greg Katz of Stream Realty Partners represented Travelpro.
The two-story property sold for $510 per square foot.
Simon acquired the 18.6-acre Sears site last year for $23 million.
The asset consists of two 11-story office towers and a connected structured parking facility. The property is fully leased and home to a diverse roster of national and global tenants.
The portfolio includes four shopping centers located in Miami-Dade, Broward and Palm Beach counties.
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