Edgewater retail space sells for $10M

Cite Condominiums in Miami
Cite Condominiums in Miami

The ground-floor retail space of the Cite Condominiums in Miami’s Edgewater was sold to a company from New York for $10 million.

MCZ/Centrum Bayshore, a Chicago-based partnership that developed the entire building in 2004, sold the 17,897-square-foot retail space to Tisoped Corp., a New York-based company registered to the law firm of Goldberg Weprin Finkel Goldstein, according to the South Florida Business Journal.

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The retail space at 2001 Biscayne Boulevard is now 96 percent leased.

“The buyer was attracted to the rare opportunity to purchase prime retail real estate as well as a highly coveted development site located on one of the highest profile corridors in South Florida,” Marcus & Millichap’s Ronnie Issenberg, who represented the buyer with Gabriel Britti, told the publication. [South Florida Business Journal]Christopher Cameron