Constellation Group Acquires Development Site Along US 1 In Miami’s Coconut Grove For $12 Million
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 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.
The Art Deco retail property spans 35,240-square feet and is currently 98% leased to a premier tenant roster, including H&M, which anchors the property.
The four properties total 127,826 square feet and were purchased between 2018 and 2020 for a combined total of $28,900,000.
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