The Real Deal Miami

Import-export firm buys Grove Plaza

May 02, 2012 09:00AM

Import-export firm Valor Investments has paid $3.4 million for the Grove Plaza office building in Miami’s Coconut Grove neighborhood. The property, which is located at 2900 SW 28th Terrace, was sold by 1st United Bank. Brenner Real Estate’s Helen Weissman and Suzanne Lopez represented the bank in the transaction. Valor was represented by Esslinger-Wooten-Maxwell’s Silvia Lorenzo and Chip Black. “We had the listing under contract a couple [of] times and we always had backup offers,” Lopez said. “In the end, the buyer will take some space in the building and lease out the remaining space.” Brenner had been assigned the property management agreement on the building in December of 2010 on behalf of 1st United, the mortgagee, which eventually assigned property management and sales listing agreements to Brenner. — Alexander Britell