Modani Capital, a business entity related to Modani Furniture, has purchased the 111,691 square foot retail/warehouse building located at 19400 W. Dixie Highway, Miami for $3,800,000.
This building served as the Miron Lumber and Home Furnishings retail store and distribution center for the past 60 years.
Modani Furniture has designed award-winning collections of contemporary and modern furniture, with retail locations in Miami’s Design District, as well as New York, Los Angeles, Houston and Chicago. This building will serve as Modani’s main office, distribution and outlet center. Modani intends to improve the building to better reflect its design-oriented image.
Ted Konigsberg of Infinity Commercial Real Estate represented the Landlord, 19400 West Dixie, LLC. Nathaniel Cohen of Barclay’s Real Estate, also a principal partner of Modani Capital, represented the Buyer.
When asked about the transaction, Broker Konigsberg said, “This was a highly complex transaction, due to the non-conforming status of the building and site as related to current zoning requirements in the area. We are pleased to have worked with both a sophisticated buyer and seller, as well as Brian Adler of Bilzin Sumberg, who provided a wealth of knowledge in the areas of planning and zoning.”
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