Wednesday, August 21, 2013

HFF closes sale of urban retail building in Miami Beach, FL


1600 Lenox, Miami Beach, FL
 
Luis Castillo
MIAMI, FL – HFF announced today that it has closed the sale of 1600 Lenox, a 6,792-square-foot, urban retail building in Miami Beach, Florida.

               HFF marketed the property on behalf of the seller, Greenstreet Real Estate Partners LP.

               1600 Lenox is located at the intersection of 16th Street and Lenox Avenue immediately adjacent to Lincoln Road, an urban, pedestrian-friendly shopping district in Miami Beach.

 Originally built in 1937, the art-deco property was fully renovated in 2011 and is 100 percent leased to prominent restaurant and bar concepts: Yardbird Southern Table & Bar, The Abbey Brewing Company and SuViche.

Daniel Finkle
               The HFF investment sales team representing the seller was led by director Luis Castillo, senior managing director Danny Finkle and senior analyst Rob Saracco.

               “The high-profile tenancy of this particular property in addition to its location adjacent to Miami’s dominant ‘high street’ retail corridor, Lincoln Road, attracted a substantial amount of investor interest,” said Castillo.

               HFF’s investment sales team secured more than $1.0 billion in sales of retail assets nationally during the first half of 2013.  In Florida, HFF closed more than $353 million in retail transactions across all capital markets platforms over the same period.

Miami Beach skyline
                Greenstreet Real Estate Partners, L.P. is an investment and asset management company operating throughout the United States. 

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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