PEBB Enterprises Closes Sale Of Delray Landing In Delray Beach
PEBB, in a joint venture with Cincinnati-based Topvalco Inc., sold the property for $30 million.
PEBB, in a joint venture with Cincinnati-based Topvalco Inc., sold the property for $30 million.
Expected to open in fall 2026, the 13,083-square-foot, three-story property lease marks Ketchy Shuby’s first Florida location, joining two existing locations in Lower Manhattan and Southampton, New York.
The 57-story office tower is Miami’s first Class-A delivery in more than a decade.
The entire site encompasses 228,355 land square feet and 435 feet of frontage along South Dixie Highway, and includes a 4-story office building.
Completed between 2024 and 2025, the property comprises 420 units, offering a mix of studios, one-, two- and three-bedroom layouts, and townhomes.
Newmark Multifamily Capital Markets Executive Managing Director Tal Frydman and Vice Chairman Hampton Beebe facilitated the sale on behalf of the seller.
Leasing activity in the Brickell submarket remains exceptionally robust in 2025, with over 200,000 square feet leased year-to-date.
“These new tenants bring innovative ideas and energy that perfectly complement the spirit of the campus, and we’re honored to support their growth as they help shape Miami’s tech and creative future.”
Newmark Managing Director Mitch Heifetz represented the tenant in the transaction. Additional transaction support was provided by retail advisors Andrew Connolly and Jake Siegel.
The Newmark team, led by Senior Managing Director Jeremy Hakala and including Managing Director Matt Himmelsbach and Director Brandon Shores, will lead leasing efforts on behalf of ownership.
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