Potamkin Companies Acquires Miami Beach Retail Property for $10.4 Million

Potamkin Companies, a Miami-based real estate investment firm, has acquired a 15,000 square foot retail property located at 1695 Alton Rd in Miami Beach for $10.4 million. The property was sold by La Playa Properties and represented by Rich Tallman. The buyer was represented by Marc Chasin of Urban Central Realty Advisors.

The property is located in a prime retail area of Miami Beach, with high foot traffic and visibility. The building is currently fully leased to a mix of national and local tenants, including a popular restaurant and a boutique clothing store. The property is expected to generate strong cash flow for Potamkin Companies.

This acquisition is part of Potamkin Companies’ strategy to expand its portfolio of income-producing properties in the Miami area. The firm has been actively acquiring properties in the region over the past few years, with a focus on retail and office assets.

Rich Tallman, the seller’s representative, commented on the transaction, stating that “the property generated significant interest from a number of potential buyers, but Potamkin Companies ultimately emerged as the best fit for the property and the seller’s goals.” Marc Chasin, the buyer’s representative, added that “this acquisition is a great addition to Potamkin Companies’ portfolio and we are excited to see the strong cash flow that this property will generate for our client.”