MIAMI—A single-tenant retail condo property just traded hands. The space is on the ground floor of the 55 Merrick Condominium mixed-use building located at 20 Giralda Avenue in Coral Gables, FL. The purchase price was $4.1 million.

The street-front property includes 4,663-square-foot bank plus drive-through lanes currently leased to EverBank. Badajoz Investments acquired the retail condo from Merrick Property Holdings.

CBRE represented the buyer and the seller in the transaction. Todd Weintraub and Christian Napolitano of CBRE led the charge.

"EverBank has exceptionally strong deposits at this branch in excess of $300 million, which provided the investor confidence in this acquisition and confirmed the strength of this Coral Gables banking location," says Todd Weintraub, first vice president with CBRE. "The property is well positioned and fronts Giralda Avenue, which is scheduled to undergo a major transformation as part of the Coral Gables Streetscape project beginning in early 2016."

Coral Gables recently won another corporate headquarters. Quirch Foods, a multinational food distribution company that serves the US, Caribbean and Latin America, just relocated its 155 executive employees to the Miami suburb.

And 55 Miracle Mile, a 65,242 square-foot class A mixed-use development, in August reported a miracle, of sorts. The building is fully leased. Most of the leases were renewals and all were expansions and come on the heels of recent renovations and upgrades to the interior, exterior and garage.

"Tenants see value in being near Miami International Airport and are attracted to the area's urban vibe and walkability," Danet Linares, vice chairman of Blanca Commercial Real Estate. "Access to executive housing is another big plus. With so many residential neighborhoods nearby, commuting is a breeze. We're also seeing good traction with tech, entrepreneurial and new media companies, like HBO Latin America, eMerge Americas, Endeavor, etc."