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| 55 Miracle Mile, Coral Gables, FL |
CORAL GABLES, Fla., June 21, 2013 – Marcus & Millichap
Real Estate Investment Services, the nation’s largest real estate investment
services firm, is exclusively listing the retail, office and parking portion of
55 Miracle Mile, located in Coral Gables, Fla. The listing price is
$27,500,000.
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| Douglas K. Mandel |
55
Miracle Mile was built by Starwood Capital Group in 2004. The project included
184 luxury residential condominium units, all of which were sold that same
year. The retail and office space portion consists of 65,242 square feet
located on the ground, second and third floors. The parking garage features 400
spaces and is open to the public.
Douglas K. Mandel, a first vice president investments
in Marcus & Millichap’s Fort Lauderdale office, and Benjamin H. Silver,
a senior associate in the firm’s Miami office, are representing the seller.
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| Benjamin H. Silver |
“With 92 percent occupancy and a collection of established
tenants, the property offers excellent income stability in a submarket that
commands some of the highest rental rates in Miami-Dade County,” says Mandel.
“Miracle Mile is home to several high-end retail boutiques,
restaurants, and cultural venues and is recognized by both locals and tourists
as a true destination,” adds Silver. “The property provides a unique
opportunity to acquire a trophy property in a highly desirable location.”
Coral Gables is a dynamic, historic and international
city. It is also centrally located,
offering convenient access to Miami International Airport, downtown Miami,
Brickell Avenue, Key Biscayne, Coconut Grove and South Miami.
For a complete copy of the company’s news release, please
contact:
Ben Johnson
Marketing Director
(925) 953-1736
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