Prime Miami Retail Property on Biscayne Boulevard Sold for $6.5 Million
A retail property located at 6101 Biscayne Boulevard in Miami has been sold for $6.5 million.
Miami’s commercial real estate market continues to thrive as a prime retail property located at 6101 Biscayne Boulevard changes hands in a significant deal. The property, spanning 12,043 square feet, was sold for a total price of 6.5 million, equating to a price per square foot of 540. The sale was facilitated by Tony Arellano and Devlin Marinoff of DWNTWN Realty Advisors, prominent brokers in the Miami real estate scene.
Located in the heart of Miami, the property at 6101 Biscayne Boulevard offers an excellent opportunity for retail businesses to establish a presence in a bustling area. With its prime location and high visibility, the property is well-suited for retailers looking to attract a large customer base.
The sale of this retail property highlights the strong demand for commercial real estate in Miami. The city’s vibrant economy, diverse population, and thriving tourism industry make it an attractive destination for businesses and investors alike. Miami’s retail sector has experienced steady growth in recent years, driven by a strong consumer market and an influx of tourists.
Tony Arellano and Devlin Marinoff, both seasoned professionals in the Miami real estate market, played a crucial role in facilitating this transaction. As brokers at DWNTWN Realty Advisors, they have a deep understanding of the local market dynamics and a vast network of clients and investors. Their expertise and negotiation skills were instrumental in securing a favorable deal for both the buyer and the seller.
The buyer of the property, whose identity has not been disclosed, recognized the immense potential of the retail space on Biscayne Boulevard. With its strategic location and high foot traffic, the property presents an opportunity for the buyer to capitalize on Miami’s thriving retail market. The purchase of this prime retail asset aligns with the buyer’s investment strategy and long-term growth objectives.
On the other side of the transaction, the seller of the property, also undisclosed, achieved a successful exit from their investment. The sale of the property at a favorable price per square foot reflects the strong market demand and the desirability of the location. The seller can now reinvest the proceeds into other ventures or reallocate their capital as per their investment strategy.
The successful sale of this retail property on Biscayne Boulevard showcases the expertise and market knowledge of Tony Arellano and Devlin Marinoff. As leading brokers in Miami, they continue to facilitate significant deals and contribute to the growth of the city’s commercial real estate sector. Their track record of successful transactions and their commitment to client satisfaction have earned them a reputation as trusted advisors in the industry.
In conclusion, the sale of the retail property at 6101 Biscayne Boulevard in Miami for $6.5 million marks a significant transaction in the city’s commercial real estate market. With its prime location and strong market fundamentals, the property presents an attractive investment opportunity for the buyer. Tony Arellano and Devlin Marinoff of DWNTWN Realty Advisors played a pivotal role in facilitating the deal, leveraging their expertise and market knowledge to ensure a successful outcome for all parties involved. As Miami’s commercial real estate market continues to thrive, this transaction serves as a testament to the city’s robust growth and the opportunities it offers to investors and businesses alike.