Avison Young Sells Former Miami INS Building In $23M Court-Ordered Transaction
Avison Young Principals Michael T. Fay, Jay Ziv, John K. Crotty, David Duckworth, and Brian C. de la Fé completed the sale.
Avison Young Principals Michael T. Fay, Jay Ziv, John K. Crotty, David Duckworth, and Brian C. de la Fé completed the sale.
The listing, which is being handled by CBRE Senior Vice President David Wigoda, says the property offers a turnkey solution for a corporate buyer or it could be redeveloped for office, industrial, retail, hotel or multifamily uses.
Opa-locka and North Dade overall are enjoying an influx of new residents, as workers move north in search of housing and other resources that are less expensive.
For over four decades, he has actively excelled in the commercial real estate industry, gaining knowledge and expertise across retail, office, medical leasing, land assemblage, acquisitions/dispositions, and development.
The site contains 66 existing units positioned directly on Ninth Street in the Little Havana density overlay, allowing for high-density development.
ONE Sotheby’s International Realty Global Commercial Director Manny Chamizo III, the exclusive sales representative for Merrick Manor’s 20,000 square feet of prime ground-floor commercial space, brokered the sale.
This is the firm’s second development site acquisition in greater downtown Miami within a period of eight months.
Jordan Todd of United Realty Group represented Universal Chillers. Michael Waite and James Armstrong IV of The Easton Group represented the landlord, Seagis Property Group. Ronald Marrero of Seagis also worked on the deal.
Berkadia Managing Directors Scott Wadler, Brad Williamson, and Matt Robbins, Senior Managing Director Mitch Sinberg, and Vice President Michael Basinski of Berkadia South Florida arranged the loan on behalf of the Miami-based sponsors.
The approved plans included 180 residential units, 70 hotel rooms and 9,508 square feet of ground-floor retail.
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