 |
| Daniel Finkle |
MIAMI,
FL – – Holliday Fenoglio Fowler, L.P. (HFF) announces the $15.25
million sale of a 12,000-square-foot, single-tenant retail building leased to
Fogo De Chão Brazilian Steakhouse in Miami Beach, Florida.
The HFF
team marketed the property on behalf of the seller, 836 First Street,
LLC.
Fogo De
Chão is an upscale Brazilian steakhouse with 47 locations located throughout
the United States, Puerto Rico, Brazil, the Middle East and Mexico.
Fogo De
Chão has been operating at this location since 2008 and has recently extended
its lease term by an additional 10 years. As part of the extension, the
tenant has committed to a significant investment in the building through a
complete renovation planned for this year.
 |
| Marc Mandel |
Situated on .28 acres at 836 1st Street on
South Beach’s “Restaurant Row,” the property receives high consumer traffic
from both South Beach locals and the millions of tourists that visit the area
annually.
The HFF
investment advisory team representing the seller included senior managing
director Danny Finkle, managing directors Marc Mandel and Luis
Castillo and director Steve Schrenk.
“Strong
demand remains for well-located single tenant assets; evidenced by the fact
that the property closed in less than ninety days from the commencement of
marketing,” Mandel said.
 |
| Luis Castillo |
HFF and
its affiliates operate out of 26 offices and are a leading provider of
commercial real estate and capital markets services to the global commercial
real estate industry.
HFF, together with its affiliates, offers clients a
fully integrated capital markets platform, including debt placement, investment
advisory, equity placement, funds marketing, M&A and corporate advisory,
loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF
Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE:
HF). For more information, please visit hfflp.comor follow
HFF on Twitter @HFF.
For more
information, please contact:
KIMBERLY
STEELE
HFF
Digital Content/Public Relations Specialist
(713)
852-3420
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