Colliers Facilitates Sale Of 45-Unit Multifamily Building For $10.9M In Coconut Grove
Colliers Vice President Virgilio Fernandez represented the seller and the buyer in the transaction.
Colliers Vice President Virgilio Fernandez represented the seller and the buyer in the transaction.
Colliers Vice Chairman Jonathan Kingsley represented the tenant, Seaboard Marine, in the transaction. JLL Executive Managing Director Brian Smith represented the landlord, Prologis, in the lease renewal.
Thad Adams, Managing Director of Brokerage Services at The Allen Morris Company, along with Rafael del Rosal and Maricarmen Cabrera, also with The Allen Morris Company, represented the tenant in lease negotiations. Kevin Gonzalez, Senior Vice President, Tom Farmer, Vice President and Stephen Rutchik, Vice Chairman with Colliers, represented the landlord.
The transaction ranked as South Florida’s largest urban retail lease in 2023 and the fourth-largest retail lease deal overall.
Mark Rubin, Bastian Schauer, Jake Stauber, and Senior Financial Analyst Jared Mann of the Colliers South Florida Investment Services Team represented the seller in the transaction.
Colliers Vice President Virgilio Fernandez represented the seller and the buyer in the transaction.
The office with retail component including a rooftop venue will bring sophisticated work/play experiences to Coral Gables’ Merrick Park district. Groundbreaking is scheduled for Q4 2023 with completion in 2025.
Completion of a series of capital improvements at the 365,000-square-foot Class A office building contributed to the attraction of new office tenants.
Colliers Vice Chair Stephen Rutchik and Vice President Tom Farmer negotiated five leases totaling 47,235 square feet.
The listing increases Team Kingsley-Rutchik’s market share of Class A buildings in the market to 1,771,254 square feet, totaling 33.7%.
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