Savills Appointed To Lead Sales, Leasing For Coral Gables Office/Retail Space
Donna Abood, Joe Abood, and Peyton Dowd of Savills have been appointed to market the commercial sale and leasing opportunities for the project.
Donna Abood, Joe Abood, and Peyton Dowd of Savills have been appointed to market the commercial sale and leasing opportunities for the project.
The retailer will occupy 21,260 square feet at 8508 SW 24 Street in Miami and anticipates opening in fall 2024.
As a boutique firm, Movement CRE stands out by delivering highly personalized, data-driven commercial real estate services that meets the evolving office, industrial, and retail needs for both occupiers and property owners across South Florida.
A significant investment of approximately $12 million—contributed equally by the State, the City, and the Ritz-Carlton South Beach—is being dedicated to enhancing infrastructure, implementing art and landscaping, creating pedestrian-friendly streets to harmonize with the rest of Lincoln Road.
Richard Henry, Mike Ryan, Brian Linnihan, and JP Cordeiro with CBRE Capital Markets’ Debt & Structured Finance represented the borrower, SJC Ventures.
The Miami Beach retail market continues to demonstrate strong fundamentals, with average submarket occupancy currently at 95%.
SJC Ventures, in partnership with Nuveen Real Estate, plans to break ground in fall 2024 on the new development that will comprise an 88,938-square-foot mixed-use center, featuring retail stores, restaurants and service-driven businesses.
Together, they will elevate and maximize the company’s existing properties, while also providing new and innovative opportunities.
The acquisitions total $15.5 million.
As a result of this successful transaction, the team has been designated as the sales broker to market three additional office buildings and one retail building in the immediate area.
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