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| 1400 Alton Road, Miami Beach, FL |
Drew A. Kristol and Kirk D. Olson, vice president
investments in Marcus & Millichap’s Miami office, had the exclusive listing
to market the property on behalf of the seller, a limited liability company
from Greenwich, CT.
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| Drew A. Kristol |
“Alton Road retail is very sought after due to the lack of
product and the density of high-end condominium projects that line West Avenue
along the west side of South Beach.
"Even rarer are corner properties that benefit from the dual exposure. This is a prime opportunity for the investor to stabilize the building with new tenants which will result in strong cash flow upon lease up,” says Drew Kristol.
"Even rarer are corner properties that benefit from the dual exposure. This is a prime opportunity for the investor to stabilize the building with new tenants which will result in strong cash flow upon lease up,” says Drew Kristol.
“The buyer plans to complete major renovations to the
property before occupying a portion of the space with his high-end cosmetics
and skin care company. He saw this as a phenomenal opportunity to improve the
company’s brand recognition by being in close proximity to the Lincoln Road
Mall,” adds Rein.
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| Felipe J. Echarte |
The building totals 11,716 rentable square feet over two floors (8,000 on the ground and 3,716 on the second floor), with an additional 1,296-square foot outdoor terrace.
Also included in the offering was a 7,500-square foot vacant parking lot zoned RM-3 currently striped for 22 parking spaces.
For a complete copy of the company’s news release, please
contact:
Kirk Felici
First Vice President/Regional Manager, Miami
(786) 522-7000
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