MIAMI—A freestanding retail building in MiamiBeach has traded hands. Triarch Investment Group,an Aventura, FL-based owner and developer, acquired a23,221-square-foot development site for $2.8 million.
Newmark Grubb Knight Frank (NGKF) arranged thesale on behalf of the seller, regional accounting firm Gerson,Preston, Robinson. Ian Ludmir with TheReal Estate Club represented Triarch in the investmentdeal.
The retail building sits at 666 71st Street inMiami Beach, a major intersection at the northern gateway to SouthBeach. The commercially zoned site includes a 7,990-square-footsingle-story office building. The retail asset isaccessible from 71st Street, Indian Creek Drive and CarlyleAvenue.
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