August 13, 2013
According to recent reports, demand isn’t letting up in Miami’s up-and-coming neighborhoods.
Local, national and global developers’ and owners’ penchant for “trendy” continues as properties in all sectors are gobbled up in Miami Beach’s Sunset Harbour.
Metro 1 Commercial has recently completed four transactions in the swanky submarket, totaling nearly 40,000 square feet. Mika Mattingly represented the landlords in a transaction involving Route 66 & Texaco, located at 1845 Bay Road and 1840 Alton Road respectively, valued at $6,750,000. The Route 66 property is a 3,800 square foot building situated on 8,000 square feet, The Texaco facility is a 4,595 square foot building on a 16,000 square foot lot.
In another deal, Metro 1 Commercial’s Tony Arellano and Jaime Sturgis represented the tenant, Barry’s Bootcamp, in a 3,900 square foot, 10-year lease deal at 1835 Purdy Avenue.
Heralded as the “The Best Workout in the World,” Barry’s Bootcamp has revolutionized group fitness by delivering to a legendary following, including celebrities Kim Kardashian, Amanda Seyfried, Jessica Biel, Katie Holmes and Jake Gyllenhaal. Barry’s Bootcamp was voted “The Best Celebrity Workout” by ALLURE and LOS ANGELES MAGAZINE and was covered in The New York Times, Shape Magazine, Self Magazine, Us, Nightline, People, Women’s Health, Men’s Health and dozens of others. “It only made sense that Barry’s be a component of one of the hottest emerging neighborhoods in Miami, particularly within a retail complex focused on health alongside tenants green monkey yoga, Jugo Fresh, Flywheel Spinning, Fresh Market around the block and other creative retailers,” commented Arellano.
The gym is scheduled to open this Fall.
In another lease transaction, Metro 1 secured a Sunset Harbour location for Wynwood-based Panther Coffee. The specialty coffee roaster, retailer and wholesaler signed a long-term lease for 1,650 square feet at 1875 Purdy Avenue in the new Shops at Sunset Harbour, a project developed by Scott Robins. The project includes a 4-story, city-owned public parking garage directly above the Shops, which offers 460 parking spaces.
Tony Arellano represented the tenant, owners Joel and Leticia Ramos Pallock, in opening this store, their second location on Miami Beach.
The Pallock’s have decades of experience in the industry from directly sourcing and hand roasting coffees from top quality producers in south and Central America and Africa as well as the meticulous preparation of coffee beverages inside their coffee bar.
“We are very pleased to represent and support the growth of a fantastic home grown independent brand like Panther, which will bring so much character to the already up and coming Sunset Harbor area,” stated Tony Cho, President & CEO of Metro 1.
The deals further solidify Metro 1’s commitment and specialization in the up-and-coming Urban Core neighborhoods including Wynwood, the Design District, Downtown Miami, Edgewater, the Upper Eastside, and Sunset Harbour.