Distressed Property and Florida Commercial Real Estate

Coral Gables Florida – Our reports today are centered on South Florida Commercial Real Estate projects. We still have a nice amount of Distressed Commercial Properties that are available.

A Net Lease Deal – Lucky Food Market signs lease in North Lauderdale Florida

Lucky Food Market has signed a 6,150-square-foot lease of a retail warehouse space at 5611 North State Road in North Lauderdale, Brenner Real Estate announced. The deal was handled by Mark Dreyer, commercial associate at Brenner, who represented landlord DT of Fort Lauderdale, a limited liability company. Lucky, which leased the space as an additional location for the company, represented itself. It has been in operation in Broward County for approximately 15 years

Coral Gables Florida Commercial Real Estate News

The Metro 1 Company is set up to lease the 2103 Coral Way Property. Metro 1 Commercial has been named the exclusive leasing agent for 21/22 Center at 2103 Coral Way in Miami. The eight-story, 67,374-square-foot project includes a ground-floor retail space and a five-story parking garage. Metro 1 President and CEO Tony Cho and Tony Arellano, commercial sales director, will lead marketing efforts for the property.

This Florida Commercial Real Estate is not a Distressed Commercial Property. In fact it is located within Minutes from Miami International Airport, Brickell Avenue, Coconut Grove and Major Highways, Within Walking Distance to Local Shops & Restaurants. The property is conveniently located at the corner of Coral Way and 21st Avenue in the heart of beautiful Coral Gables.

– Built to suit Office Suites for Immediate Occupancy
– Ample parking ratio with direct access in the building’s garage
– On-site Property Management
– Xixon Cafe / Restaurant and Subway located on the ground floor
– Brand new common areas (over $1M in building upgrades)
– Centrally Located Office Building

The Shops at Sunset Place Rocks in South Florida

The Net Lease Property is in Miami-Dade County. Coral Gables is served directly by the Miami Metrorail at Douglas Road, University, and South Miami stations. Douglas Road, adjacent to the Village of Merrick Park, provides transit service into Downtown Coral Gables via the Coral Gables Trolley, to University of Miami at its namesake station, and to parts of Coral Gables and The Shops at Sunset Place at South Miami.

Commercial Real Estate Investment Property

The Shops at Sunset Place at South Miami is on an outdoor Mall. it had recently been refinanced. Reports as recent as a few months ago had the Shops at Sunset Place in South Miami getting on track to become a prime commercial real estate investment. It was approximately 90 percent leased, which covered the debt service on its $76.6 million mortgage and its last appraisal valued it significantly above its commercial loan amount. The Shops at Sunset Place has maintained this occupancy rate in the high 90’s even during the recession.

The Owners of the Mall have done a great job attracting young people, with tenants including clothing store Forever 21. Simon should try landing H&M, Zara or another clothing retailer. There are a few high-end Malls in the area so The Shops at Sunset offer a great mix to pull in all ages for retail traffic.

Contact us to buy or sell Commercial Properties in Florida.

O’Reilly Commercial Realty LLC
Patrick O’Reilly
Phone: (352) 237-2222