The Real Deal Miami

Mattoni Group buys retail space at 1010 Brickell

Mattoni Group plans to offer space for rent at $100 to $150 psf
By Ina Cordle | February 17, 2015 09:45AM

Rendering Retail View

Rendering of 1010 Brickell

Miami-based real estate investment firm Mattoni Group said it has acquired all the street-level retail space at 1010 Brickell, which is being developed by 13th Floor Investments and Key International Development.

Mattoni Group purchased more than 11,000 square feet of space on the ground floor of the Brickell Avenue condominium tower, which will have 50 floors and 387 units. Mattoni Group said it plans to lease the spaces to major retailers, with an asking rental rate of $100 to $150 per square foot. The property is scheduled to be completed in fall 2017.

Brokers Fernando Naranjo, president of The Orange Group, Real Estate Corp. and Lucio M. Rodrigues, of AG Real Estate Advisors, represented Mattoni Group in the deal.

1010 Brickell is positioned to have accessibility to the Tenth Street Metromover station on the Brickell Loop in Brickell. It is also in walking distance to Brickell’s main attractions & restaurants at The Shops at Mary Brickell Village and the future Brickell City Centre.

In November, the developers obtained a $76 million syndicated construction loan, led by Regions Bank, for the project. Construction began in September for the building, designed by the Sieger Suarez Architectural Partnership.

“Since Brickell is a growing metropolitan residential community,” Ricardo Caporal, founder and president of Mattoni Group, said in a statement, “the area has a high density of residents, making it a desirable location for retailers.”