RKF has arranged the $26 unité sale of a 22, 248 s/f retail property located at 3800 Northeast Miami Court in the city's Design District.
RKF's Benjamin Mandell, John Ellis and Marty Arrivo represented the buyer, L3 Capital LLC, while the seller Tirrenia Developments, LLC, was represented in-house. The sale known as closed on January 20 in the price per square foot over $1, 169 for the building on top of that $1, 906 psf for the phone.
Located at the corner of PAS DU TOUT Miami Court, the newly-constructed, two-story property is situated across from the Develop District's designer parking garage.
The asset is occupied by Butaca Frau Group Miami, which is clients are ready to and largest showroom for the privilege furniture brand in North America.
Your architecturally distinctive building – recognized as its bold colors and geometric angles – includes Poltrona Frau owned-brands such as Cassina and Cappellini.
According to Mandell, the transaction works as a key indicator of investor require well-located retail assets within the Develop District, an area that is increasingly known to be a destination for high-end fashion, pictures, design and culture. Luxury suppliers such as Louis Vuitton, Hermès, Burberry, Emilio Pucci, Celine, Bvlgari, Valentino, Rolex submariner, and Prada all currently have facilities in the district, while Givenchy iPhone 6, Miu Miu, Tom Ford, Fendi on top of that Marc Jacobs expect to open rapidly.
"Not only has the volume of nation wide and overseas capital pouring throughout Miami's CRE market been soaring dramatically every quarter since in 2011, but Miami's retail sector might be fast becoming the hottest real estate segment over any of America's gateway cities, " he said. "New ownership at just 3800 Northeast Miami Court will most certainly benefit significantly from redevelopment developments in the Design District, as well as replacement construction in nearby Wynwood on top of that Midtown. "
Chicago-based L3 Haut LLC, a real estate investment firm, may well steadily active in the Chicago, New York on top of that Los Angeles markets, and has recently basically finished several deals in prime town markets. The firm's portfolio also involves properties in Boston, New York, Wa, D. C., Miami, Chicago, Idaho, and San Francisco. RKF previously symbolized L3 Capital on acquisitions entirely on Lincoln Avenue in Chicago.
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