Kris Wagner, Larry Stockton Sell Design District Property For $675 PSF

Apr 09, 2013 No Comments by

BisazzaKris Wagner of Keyes Commercial Real Estate and Larry Stockton of Colliers International South Florida are pleased to announce their client, Bisazza USA’s, purchase of the property that is home to Bisazza USA’s Flagship US Showroom in the Miami Design District at 3740 NE 2nd Avenue.

“The purchase option by Bisazza North America, Inc. for $3,000,000 or $675.00 psf is an excellent value in today’s market,” said Wagner.

At the time of the lease execution in late 2008, the market was +/- $350.00 psf in the Design District, so the negotiated option by Wagner and Stockton represented a tremendous windfall purchase with many properties trading at $1,000 psf and higher in the Design District.

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