The Baltus building

Miami-based Metro 1 Commercial now has the listing on 5,000 square feet of space on the second floor at the Baltus building in Miami’s Design District, according to the firm’s Tony Cho and Tony Arellano. The property, which is located at 3925 North Miami Avenue, is being listed for $30 per square foot gross, right next to the I-95 exit. The building, which was constructed in 1950, has a total of 10,563 square feet. — Alexander Britell

The retail building fully leased to Oggetti Designs at 70-74 NE 40th Street in Miami’s Design District has been sold, according to Metro 1 Commercial’s Tony Cho. The property is located on a 5,000-square-foot tract. The firm has now topped $65 million in sales in the greater Wynwood, Design District and Midtown area in 2012. Terms of the transaction were not disclosed. — Alexander Britell

The Power Studios building

The Power Studios building in Miami’s Design District is on the market for $8.2 million, according to Metro 1 Commercial President Tony Cho, who has the listing on the property. The 13,102-square-foot, two-story property allows for an additional 100,000 square feet of development. It is being marketed as retail, restaurant, gallery, or mixed-use development space. — Alexander Britell

7205 NE 4th Avenue

Wynwood-based Metro 1 Commercial has listed the Rail 71 flex-creative warehouse for $11.49 million, the firm announced. The property, which is located at 7205 NE 4th Avenue in Miami, has spaces ranging from 3,723 square feet to 23,096 square feet. The property is also marketed for lease at a price of between $9.50 and $12 per square feet, modified gross. Metro 1′s Tony Cho and Tony Arellano have the listing. — Alexander Britell

Panther Coffee on NW 2nd Avenue in Wynwood (TRD Photo)

Until recently, Miami’s Wynwood neighborhood was known mostly for its art galleries. Now the former enclave, made up largely of vacated industrial space, is developing into a full-fledged center of commercial real estate activity. It was the signing of Italian motorcycle manufacturer Ducati for a new showroom last month that made the most noise, but the area west of downtown and south of Midtown and the Design District has quietly been attracting a variety of retail, restaurant and office tenants, from Panther Coffee to the Lester’s café.  [more]

Metro 1 Commercial has been named the exclusive leasing agent for 21/22 Center at 2103 Coral Way in Miami. The eight-story, 67,374-square-foot project includes a ground-floor retail space and a five-story parking garage. Metro 1 President and CEO Tony Cho and Tony Arellano, commercial sales director, will lead marketing efforts for the property.
— Alexander Britell

Tony Cho

An office/retail building in the Design District has been sold for $6.15 million, according to Metro 1 Commercial, which represented seller FT Holdings/White Dove in the transaction. The property is located at 3995 North Miami Avenue. The buyer was RD Design District, which has a number of holdings on Lincoln Road. RD was represented by Sterling Realty’s Eric Levin in the deal. “We are pleased to have been able to facilitate a favorable agreement for both parties involved,” said Metro 1 President Tony Cho. [more]

A 3.22-acre vacant lot in Wynwood has been sold to buyer Megan Holdings for $3.6 million, according to Metro 1 Properties President and CEO Tony Cho, who represented Megan in the deal. The seller was Artist Lofts, an entity owned by David Lombardi and a group of investors. “The acquisition is part of a larger plan for future development, but it is a key piece to the puzzle,” Cho said. “We believe Wynwood is one of the most exciting neighborhoods in Miami’s urban core and has tremendous upside potential.” The site has been used in the past for food trucks during the Wynwood Art Walk. — Alexander Britell
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Tony Cho and his 30-associate real estate firm, Metro 1, have their sights set on Wynwood. Cho’s firm brokered the 160,000-square-foot lease in the Wynwood Free Trade Zone to the production company filming the Miami-based Charlie’s Angels remake, and intends to add more to the neighborhood. “I plan on bringing in restaurants, hospitality, outlets,” he said. “I’m bringing interest brands and concepts to the areas we promote.” [Miami Today]
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Woodridge Productions, the company filming the first season of ABC’s new TV series “Charlie’s Angels,” has signed a 160,000-square-foot lease at the former Wynwood Foreign Trade Zone, purchased last year in a bankruptcy auction by Mannigan Holdings, Metro 1 Properties, which represented the landlord, announced today.

“Production is a big part of our vision for Wynwood and I hope more people recognize its importance to our community. One hundred and sixty thousand square feet in industrial leases rarely get signed in this area and there is still demand for similar spaces. Frankly, I wish we had more space,” Metro President Tony Cho said. – Katherine Clarke [more]