Miami Beach Property Sale Breaks Florida Record

JLL Capital Markets has successfully arranged the $28.2 million sale of CATCH Miami Beach restaurant.

JLL represented the seller, the Black Lion Investment Group, and procured the buyer, Texas-based River Oaks Properties, led by its President Adam Frank, who was represented by Pegasus Investment.

The transaction marks the highest value attributed to a freestanding restaurant property in Florida’s history, showcasing the demand for irreplaceable assets in Miami’s exclusive South of Fifth neighborhood.

“We are proud to have played a key role in bringing a world-class tenant to one of Miami’s most iconic neighborhoods. CATCH has elevated the city’s dining scene, and we are grateful to their team for placing their trust in us and our property,” said Robert Rivani, President of Black Lion. “This deal underscores the resilience and growth potential of the restaurant industry in the South Florida market.”

CATCH Miami Beach is fully leased to CATCH restaurant – a venture led by Tilman Fertitta, Mark Birnbaum and Eugene Remm – and backed by Landry’s, an operator out of Houston, Texas with over 600 locations nationally. The restaurant began as a standalone New York City operation and has expanded into seven major markets, including Dallas, Los Angeles and Las Vegas. There are 15 years of remaining lease term with two percent annual rent increases. This opportunity is the latest of Black Lion Group’s mission to bring unique, coveted hospitality brands to exceptional locations within the Miami market – including Gekko at SLS Lux in Brickell, Rosa Negra at Dua Miami in Brickell and Amara at Paraiso in Edgewater.

Located at 200 South Pointe Dr., CATCH Miami Beach is a rare freestanding restaurant in Miami Beach’s prestigious “South of Fifth” community, which is also home to some of the most nationally renowned and highest grossing restaurants such as Joe’s Stone Crab, Papi Steak, Prime 112 and Carbone. The venue is situated in the bottom, commercial portion of the Continuum Towers, home to many celebrities with units going for upwards of $3,000 per square foot.

CATCH Hospitality Group, founded in 2011, invested significantly in renovating the 20,630-square-foot space, which includes indoor dining and a rooftop terrace. The venue’s design by Rockwell Group incorporates 1920s-inspired elements, reflecting Miami Beach’s glamorous past.

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Director Alex Sharrin, Senior Director Jeff Cicurel, Associate Noel O’Donnell and Analyst Joe Luebker.

“CATCH Miami Beach embodies a unique combination of a critically acclaimed dining operator with strong financial backing and is situated in Miami Beach’s coveted South of Fifth neighborhood — one of the most desirable real estate locations in the country,” Sharrin explained.

Pegasus Investment’s Chief Executive Officer David Chasin and Managing Director Daylin Ackerman represented the buyer.