Two retail advisors have joined the firm in Miami as Executive Managing Director and Executive Director, respectively, strengthening its retail leasing and advisory capabilities across South Florida and the broader Americas region.
Read on for the most popular news headlines this past week on CRE-sources.
Market activity also comes as nearly 500,000 square feet of active new-to-market requirements are being tracked across Miami-Dade, according to Blanca’s Q1 Miami Office Market report, signaling a strong pipeline of future demand as companies continue to expand and relocate within the region.
The city’s goal is to attract fresh concepts to the area while also giving existing local businesses an opportunity to grow without the immediate burden of rent.
Bryan S. Cohen and Chris McCarthy represented the landlord, Precise Property, in the transaction.
Newmark Managing Director Mitch Heifetz serves as the building’s exclusive leasing agent, representing Brickstar Capital in the transaction. The tenant was represented by Jared Robins of Inhouse CRE.
Over the past three years, he has closed more than $100 million in transactions, earning a reputation as one of South Florida’s most active retail investment brokers.
The sales total nearly $16 million in value.
In addition to the office lease, the new tenant will also open a 5,916-square-foot ground-floor restaurant at the property.
The project, which is located near Broward Health and the new Federal Courthouse, is anticipated to be completed in the first quarter of 2027.