Triarch buys North Miami Beach retail building near planned SoLē Mia

15,000 sf building is leased to Boga Style Home

TRD MIAMI /
May.May 15, 2018 02:30 PM

14652 Biscayne Boulevard (Credit: Capital Commercial Real Estate Group)

Triarch Capital Group just picked up a retail building along Biscayne Boulevard in North Miami Beach for $6.55 million, property records show.

The 15,000-square-foot retail building at 14652 Biscayne Boulevard is leased to Boga Style Home. Online marketing materials show its lease is set to expire in about three years, with four five-year renewal options that would run through 2044.

The seller, Glazer Entreprises LLC, is a Hallandale Beach-based company led by Ofer Glazer and Ron Davidson. Records show the company paid $6 million for the property in 2005. It sits on nearly a 1-acre lot close to Turnberry Associates and LeFrak’s planned $4 billion SoLē Mia mixed-use project.

Just last month the SoLē Mia partners paid $17 million for a Costco site right across from the Boga Style Home furniture store.

Demand for retail in the area is high, according to a recent Marcus & Millichap report. Net absorption in Aventura totaled 317,000 square feet in the first quarter of 2018, the second highest amount after the Miami Airport submarket, which saw net absorption of 491,000 square feet.

Triarch Capital has grown its commercial investment portfolio since being founded in 1996 by Daniel Halberstein, Mario Grosfeld and Jorge Linkewer. The firm controls about 4.5 million square feet of commercial properties, according to its website.

Earlier this year the company bought two of three adjacent office towers in West Palm Beach for $22.5 million. Houston Astros owner Jim Crane is redeveloping the third into a 190-room hotel.


Related Articles

arrow_forward_ios
Daily Digest Miami

Ken Griffin pays nearly $100M for Palm Beach estate, new renders of 830 Brickell office tower: Daily digest

From left: Jacob Serure, Elliot Shainberg, Deme Mekras, and Aaron Kurlansky with California Club Apartments

Coral Springs investor buys apartment complex near Aventura

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

Brett David and a rendering of the auto spa

Prestige Imports plans $2M “auto spa” in North Miami Beach

South Florida firm, partner acquire Tampa office building for $29.4M

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

arrow_forward_ios