Biscayne Ale acquired a single-tenant retail property leased to Doral Ale House from DAH Property for $5.87 million.
CBRE vice president Todd Weintraub represented both the seller and the buyer in the transaction, according to GlobeSt.
“Strong historical annual sales at Doral Ale House contributed to investor confidence that the tenant will remain through the balance of the option periods,” Weintraub told GlobeSt.com. The sale of the 9,767-square-foot casual dining restaurant, located at 3271 Northwest 87th Avenue in Doral, included a 1.31-acre parcel.
“The Doral Ale House restaurant is prominently located just south of Codina Partners’ Downtown Doral project, a massive 120-acre mixed use development with more than 2,800 upscale living units and over one million square feet of office and retail,” Weintraub said. “Doral’s daytime population swells by more than 150,000 which creates an exceptionally strong demand for restaurants and retailers in the market.” [GlobeSt] – Christopher Cameron