Coconut Grove Retail Building Trades For $376 PSF

Feb 19, 2013 No Comments by

RESF Commercial is pleased to announce the sale of 3176 Commodore Plaza in Coconut Grove to the experienced restaurateurs & real investment group, MAA Real Estate LLC.

Formerly Cita’s Italian Restaurant, the space has sat vacant for almost two years.

Built in 1965, the free standing, one-story, 1,755 square foot building was the last remaining unoccupied restaurant space on Commodore Plaza. Abandoned after the previous tenant gutted and virtually destroyed the interior of the space, MAA Real Estate has plans to immediately rehab the property and open an upscale Italian restaurant.

“MAA Real Estate’s decision to purchase in Coconut Grove is a further testament to the continued rebounding commercial real estate market happening all over South Florida,” said RESF Commercials’ Gonzalez. “I am excited to see this property converted from an abandoned shell to a jewel of a restaurant in the ever popular Commodore Plaza. I can’t think of a better group of restaurant operators who understand what the Grove means to Miami and long-time locals”

RESF Commercials’ Director of Commercial Real Estate, Gabriel Gonzalez represented 3176 Commodore Plaza seller(s) in the transaction. Ricardo Dupond of Cervera Real Estate represented the buyers, MAA Real Estate.

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Industry News, Miami-Dade County Retail, NA, Retail
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