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HFF Records Highest Value Retail Property Sale in Florida in the Expanding Miami Beach Area

Wednesday, September 30, 2015

Holliday Fenoglio Fowler, L.P. (HFF) recently closed the $370 million sale of a 1.1-acre contiguous city block along Lincoln Road in Miami Beach, Florida. According to HFF, the sale is the second largest ever in Miami-Dade County and the highest value retail property sale in Florida. HFF marketed the property on behalf of the seller, a partnership between Jonathan Fryd and Michael Comras. The buyer was a private family office.

The Lincoln Road area features:

  • One of the premier shopping districts in the country often compared with New York’s Fifth Avenue, Beverly Hills' Rodeo Drive and Chicago’s Magnificent Mile
  • Top tourist attraction in Miami with more than six million visitors annually
  • Lincoln Road Flagship Block consists of global flagship retail stores for Gap, Apple, Capital One and Nike
  • Improved area totals 74,537 square feet with potential to develop additional 57,328 square feet over time

The HFF capital markets team representing the seller was led by executive managing director Manny de Zárraga, senior managing director Daniel Finkle and managing director Luis Castillo.

HFF Miami has been a leader of commercial real estate brokerage and financial intermediary services for almost 15 years. With many of its young professionals recognized by the South Florida Business Journal, the Miami team is a CoStar Power Broker 2014 and the No. 1 Capital Markets Intermediary during 2014 by Mortgage Bankers Association.

About Fryd Properties and Comras Company of Florida, Inc.

Fryd Properties is one of the leading property management and development firms in Miami Beach, with more than 60 years of experience in the fields of construction, development, banking and property management. Fryd Properties manages a portfolio of real estate in cities throughout South Florida and New Jersey. For more information, visit www.frydproperties.com.

Comras Company of Florida, Inc. is South Florida’s leading retail leasing, investment and development company. The firm specializes in urban and suburban markets throughout Miami-Dade, Broward and Palm Beach Counties. The company’s services include tenant representation, strategic planning, site identification, market analysis, lease negotiation, portfolio review, site acquisition and disposition. The company was founded by Michael Comras in 1992 and is based in Miami Beach.

 






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