Scott Robins sells Washington Avenue retail for $18.6M

Miami /
Oct.October 22, 2015 10:30 AM

Amid a wave of redevelopment along Miami Beach’s Washington Avenue, developer Scott Robins has sold a prime retail property on the avenue for $18.55 million, more than 25 times what he paid for it in 1992, county records show. 

Robins’ 8th Street Washington Holdings LLC sold the 17,500-square-foot building at 743 Washington Avenue to Jamestown, an Atlanta and New York-based real estate investment and management firm – the second notable Miami Beach acquisition for the company this year.

The two-story building, on the corner of Washington and Eighth Street, was listed for $18.95 million in May 2014. The last recorded sale for the 19,500-square-foot lot was in 1992 for $730,000. It was built in 1965, according to Miami-Dade County records.

Marcus & Millichap’s Drew A. Kristol and Kirk Olson were the listing agents.

Washington Avenue is experiencing a new wave of redevelopment, as the city considers new measures that are designed to increase hotel space and retail and dining opportunities on the street, which lags far behind Lincoln Road and Ocean Drive in attracting first tier retail, dining and hotel venues.

Jamestown also purchased a Victoria’s Secret-anchored property on Collins Avenue in March for $25 million. Jamestown, which has a $7.6 billion portfolio in the U.S. and a related company based in Germany, Jamestown US Immobilien GmbH, also owns the Guess building at 736 Collins Avenue.

Robins, along with Miami Beach Mayor Philip Levine, listed a newly constructed building off Lincoln Road, for $30 million in July. Suitsupply, a European men’s brand, is leasing space at the property.


Related Articles

arrow_forward_ios
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
1260 Washington Avenue and 1234 Washington Avenue with Location Ventures CEO Rishi Kapoor (Google Maps, Location Ventures)
Location Ventures buys South Beach office, retail property for $20M
Location Ventures buys South Beach office, retail property for $20M
The Goodtime Hotel with Pharrell Williams and (from top) David Grutman, Michael D. Fascitelli and Eric Birnbaum (Getty, Alice Gao)
Pharrell’s Goodtime Hotel opens in Miami Beach
Pharrell’s Goodtime Hotel opens in Miami Beach
Rendering of new Wolfsonian-FIU Museum by Zyscovich Architects
Miami Beach voters overwhelmingly approve Wolfsonian-FIU expansion
Miami Beach voters overwhelmingly approve Wolfsonian-FIU expansion
Pharrell, Eric Birnbaum and David Grutman with a rendering of the hotel (Getty, Linkedin, Goodtime Hotel)
Pharrell, David Grutman partner with developer to launch South Beach hotel
Pharrell, David Grutman partner with developer to launch South Beach hotel
1568 Washington Ave., Miami Beach (Credit: Google Maps)
South Beach dev site with multifamily, retail hits market
South Beach dev site with multifamily, retail hits market
Rendering of the project and Rishi Kapoor (Rendering courtesy of Touzet Studio)
Developer Rishi Kapoor lands approval for mixed-use co-living project in South Beach
Developer Rishi Kapoor lands approval for mixed-use co-living project in South Beach
111 Atlantic Avenue with Scott Robins, Jonathan Fryd, Todd Glaser and Philip Levine (Glaser by Mary Beth Koeth)
Todd Glaser, partners sell Palm Beach spec home for $11M
Todd Glaser, partners sell Palm Beach spec home for $11M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...