Marcus & Millichap Brokers Record-Setting Cap Rate Sale
Jonathan De La Rosa and Eduardo Toledo, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property.
Jonathan De La Rosa and Eduardo Toledo, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property.
The project is slated to include 1,333 residential units, 41,438 square feet of commercial-retail uses and parking for up to 2,589 vehicles, and have 108 bike racks.
Sageblan Investments acquired the SunTrust Parking Garage which is entitled for up to 800 residential units, 120 hotel keys, and 7,205 square feet of retail space
He was involved with the acquisition, financing, management, and disposition of more than $25 billion worth of assets.
The property is located directly across from the largest undeveloped parcel of land in Doral, a 175-acre site recently put under purchase contract by Bridge Industrial.
DWNTWN Realty Advisors Co-Founders and Managing Partners Tony Arellano and Devlin Marinoff listed the building.
The buildings, purchased for a combined $7.8 million, will be marketed for lease to select new restaurant/retail tenants.
The company manages and leases a ±4-million-square-foot, 41-property portfolio throughout the state of Florida comprised primarily of grocery-anchored shopping centers as well as mixed-use and office properties.
The unique, two-story Walgreens is one block away from Ocean Drive.
All the new tenants are expected to open for business in the Spring of 2022.
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