The 6.6 acre property is positioned for a large-scale mixed-use development that also allows for the development of up to 6,602 residential units across residential, office, hotel, and retail.
The lease transactions are valued at more than $56 million.
Colliers’ Executive Vice Presidents Jonathan Carter and Dave Preston are leading retail and restaurant leasing on behalf of Centtral Aventura LLC.
The sale marks the largest non-mall retail transaction recorded in South Florida since 2017.
The sale price equates to more than $410 per square foot.
The deal represents a significant expansion from Terrabank’s previous 27,068-square-foot office on Coral Way.
The triple net lease is for 11,000 square feet.
The Florida City property is a fully leased multi-tenant retail center anchoring a mix of service-oriented businesses.
The mixed-use building is now fully leased.
CBRE’s Amy Julian and Andrew Chilgren represented the owner, WMP I LLC, in the transaction.
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