Miami Office/Retail Buildings Fetch Submarket’s Highest Price PSF
The transactions include two retail and office buildings in South Miami.
The transactions include two retail and office buildings in South Miami.
The four-story buildings total 498,073 square feet.
Calum Weaver, Robert Given, Zach Sackley, and Troy Ballard of Cushman & Wakefield represented the seller, Boardwalk Properties, in the transaction.
Developed by RedSky Capital, LLC, the property is an 8-story building with approximately 100,000 square feet of office and retail with a verdant rooftop terrace.
In one of the transactions, the buyer went under contract within one day of listing the space.
Rigl is a senior director with Binswanger-Gateway Partnership in South Miami. Rigl has been serving commercial real estate since 1984. He is experienced in office, industrial, multifamily and land transactions.
The 882,000-square-foot project will include 646 rental apartments and 2,500 square feet of ground floor retail.
The subject property features two 5-story office buildings on 5.78-acres with frontage on SR-7 (441) just 1-mile north of the Golden Glades Interchange.
The leases total 22,000 square feet.
The buyer plans to adapt the property into restaurant, retail and office space.
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