JLL Capital Markets announced that it arranged the sale of Monty’s Coconut Grove, also known as Bayshore Landing, a fully leased mixed-use marina, retail, office and restaurant operating business nestled in the heart of Coconut Grove, one of Miami’s most coveted neighborhoods.
JLL marketed the property on behalf of the seller, Aligned Bayshore Marina, LLC. Suntex Ventures, LLC purchased the asset.
The price was not disclosed.
Monty’s Coconut Grove/Bayshore Landing is a remarkable operating business comprised of a 111-slip best-in-class marina, a 30,535 square feet of boutique office and retail building and Monty’s Raw Bar, a highly successful 750-seat iconic restaurant that’s been a Miami landmark for 50 years. The property is situated along Biscayne Bay at 2550 S. Bayshore Dr., with direct ocean access in the heart of Coconut Grove. Coconut Grove is an affluent community four miles south of downtown Miami that is experiencing a rapid urbanization with a flurry of luxury residential and commercial developments.
The JLL Retail Capital Markets team representing the seller was led by Executive Managing Director Manny de Zárraga, Managing Director Luis Castillo, Director Ted Taylor and Senior Associate Kim Flores.
“The opportunity to acquire a storied operating asset like Monty’s Coconut Grove hardly ever presents itself in a major market like Miami, and we were honored to have represented Aligned Bayshore Marina LLC in this transaction,” Castillo said. “Suntex Ventures astutely recognized the inherent value of this marina-based asset and the long-term appreciation potential it presented.”
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