MIAMI—With so much of Miami's urban core already built out, demand is still strong in the area's emerging neighborhoods. One of those neighborhoods is the trendy Sunset Harbour in Miami Beach. Local, national and global developers are snapping up commercial real estate there.
Metro 1 Commercial is pointing out to high activity in the neighborhood. The firm recently completed four transactions totaling nearly 40,000 square feet in the swanky submarket.
Mika Mattingly represented the landlords in a transaction involving Route 66 and Texaco, located at 1845 Bay Road and 1840 Alton Road respectively, valued at $6.75 million. The Route 66 property is a 3,800-square-foot building sitting on 8,000 square feet. The Texaco facility is a 4,595-square-foot building on a 16,000-square-foot lot.
In another deal, Metro 1's Tony Arellano and Jaime Sturgis represented the tenant, Barry's Bootcamp, in a 3,900-square-foot, 10-year lease deal at 1835 Purdy Avenue. Allure and Los Angeles Magazine vote dBarry's “The Best Celebrity Workout.” It's also seen plenty of attention from major media outlets like The New York Times, Shape Magazine, Self Magazine, Us, Nightline, People, Women's Health, Men's Health and dozens of others.
“It only made sense that Barry's be a component of one of the hottest emerging neighborhoods in Miami, particularly within a retail complex focused on health alongside tenants green monkey yoga, Jugo Fresh, Flywheel Spinning, Fresh Market, and other creative retailers around the block,” says Arellano. The gym is scheduled to open this Fall.
In another lease transaction, Metro 1 secured a Sunset Harbour location for Wynwood-based Panther Coffee. The specialty coffee roaster, retailer and wholesaler signed a long-term lease for 1,650 square feet at 1875 Purdy Avenue in the new Shops at Sunset Harbour, a project developed by Scott Robins. The project includes a four-story, city-owned public parking garage directly above the Shops, which offers 460 parking spaces. Arellano represented the tenant, owners Joel and Leticia Ramos Pallock, in opening the store.
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