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| Steve Hyatt |
FORT LAUDERDALE, FL – Berger Commercial Realty Senior Vice
President Steve Hyatt recently represented the AIDS Healthcare
Foundation in selling a highly sought-after South Beach retail property for
$4,572,000 to Heritage Investors, LLC.
Located at 1501 Alton Road and 1509 W. Ave. in Miami Beach,
just two blocks south of the popular Lincoln Road shopping area, the property
includes a 7,500-square-foot retail building and a three-unit apartment
building on 15,000 square-feet of land.
The retail building
has housed the Foundation's Out of the Closet thrift shop since 2011. The thrift shop will continue to operate at
its current location under a short-term lease-back agreement until relocating
to a nearby storefront.
"This property
was one of the largest contiguous retail spaces available for sale in the South
Beach market," said Hyatt. "With its excellent location and retail
zoning, the property was in high demand with a bidding war over the purchase
price."
This is the third real estate transaction that Hyatt has
closed for the Foundation over the past two years. In January, he represented
the Foundation in the sale of a 24,000-square-foot office building and
adjoining parking lot, located at 955 S. Federal Highway in Fort Lauderdale,
for $2,025,000 to Sapphire Investment Fund, LLC.
In March 2013, Hyatt
closed the Foundation's $4.925 million purchase of the Courthouse Law Plaza,
located at 700 and 750 S.E. 3rd Ave in Fort Lauderdale.
The Foundation later
hired Berger Commercial Realty to manage the 52,000-square-foot office
property.
For a complete copy
of the company’s news release, please contact:
Marielle Sologuren
Pierson Grant Public Relations
(954) 776-1999, ext. 226
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