A Miami-Dade circuit judge sides with New York investor Louis Taic, who claimed he was induced to buy into a financially ailing South Beach venture with a misleading balance sheet.

The financing was originated by Square Mile Capital Management, LLC of New York City for the development of parcels EF and Q1, which will contain lab, office and retail space.

The property at 985 Route 17 is accessible from Routes 57, 80, and 206 and paired with its zoning made it an ideal acquisition for the new buyer, who plans on leasing the space on a per-acre basis for small and larger companies that require storage for heavy and light equipment.