Key tax incentives were passed this year that played a pivotal role in the acquisition, enabling the buyer to capture accelerated tax benefits and expand their portfolio of income-generating real estate assets.
The property is currently available for sale or joint venture partnership, represented exclusively by Michael D. Hinton, CCIM, of Lee & Associates South Florida.
The lot, located at 3000 SW 28 Street in Miami, is currently occupied by Farrey’s Lighting & Bath, a 100-year-old family-run business.
The project is designed to alleviate traffic by bringing jobs and entertainment closer to home.
The 92,089-square-foot retail center is 100% leased and anchored by Milam’s Market, Walgreens, Orion Fuels and Ace Hardware.
The dining venue will span over 20,000 square feet across three levels of indoor and outdoor space.
“These new tenants bring innovative ideas and energy that perfectly complement the spirit of the campus, and we’re honored to support their growth as they help shape Miami’s tech and creative future.”
Alex Zylberglait and Michael Crocchiola, director investments, represented the seller, a private owner.
The project is under review by the Local Planning Agency and City Commission, with a final vote scheduled for October 8, 2025.
Newmark Managing Director Mitch Heifetz represented the tenant in the transaction. Additional transaction support was provided by retail advisors Andrew Connolly and Jake Siegel.